United Parks & Resorts (NYSE:PRKS) Reaches New 52-Week Low – What’s Next?

United Parks & Resorts Inc. (NYSE:PRKS)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $44.10 and last traded at $44.56, with a volume of 422397 shares traded. The stock had previously closed at $46.30.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRKS. Truist Financial decreased their target price on United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Guggenheim upped their price target on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Barclays initiated coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an “equal weight” rating and a $50.00 target price for the company. Macquarie decreased their target price on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Mizuho boosted their target price on shares of United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, United Parks & Resorts currently has an average rating of “Hold” and a consensus price target of $61.18.

United Parks & Resorts Price Performance

The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 11.38 and a beta of 1.96. The business has a 50 day moving average of $50.97 and a 200 day moving average of $53.23.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $48.90, for a total value of $342,691.20. Following the transaction, the insider now directly owns 11,050 shares of the company’s stock, valued at $540,345. This represents a 38.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On United Parks & Resorts

A number of hedge funds have recently added to or reduced their stakes in PRKS. Public Employees Retirement System of Ohio acquired a new stake in United Parks & Resorts during the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new position in shares of United Parks & Resorts during the fourth quarter valued at approximately $72,000. KBC Group NV lifted its position in shares of United Parks & Resorts by 60.2% during the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock valued at $95,000 after purchasing an additional 638 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of United Parks & Resorts by 267.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after purchasing an additional 1,339 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new position in shares of United Parks & Resorts during the 4th quarter valued at $209,000.

About United Parks & Resorts

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.