Insider Selling: United Parks & Resorts Inc. (NYSE:PRKS) Insider Sells 13,000 Shares of Stock

United Parks & Resorts Inc. (NYSE:PRKS) insider Christopher L. Finazzo sold 13,000 shares of United Parks & Resorts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $55.62, for a total value of $723,060.00. Following the completion of the sale, the insider now owns 132,439 shares of the company’s stock, valued at approximately $7,366,257.18. The trade was a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

United Parks & Resorts Trading Down 3.0 %

Shares of United Parks & Resorts stock opened at $53.62 on Friday. The company has a market capitalization of $2.95 billion, a P/E ratio of 13.44 and a beta of 2.00. The stock has a fifty day simple moving average of $55.64 and a 200 day simple moving average of $52.93. United Parks & Resorts Inc. has a 12-month low of $44.72 and a 12-month high of $60.83.

United Parks & Resorts (NYSE:PRKS) last posted its earnings results on Thursday, November 7th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The firm had revenue of $545.90 million during the quarter, compared to the consensus estimate of $550.47 million. During the same quarter in the previous year, the company earned $1.92 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that United Parks & Resorts Inc. will post 3.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PRKS shares. JPMorgan Chase & Co. lowered their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Mizuho reaffirmed an “underperform” rating and issued a $43.00 price target (down from $45.00) on shares of United Parks & Resorts in a research note on Friday, November 8th. Macquarie cut their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Citigroup upped their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Finally, Guggenheim cut their price target on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Parks & Resorts currently has an average rating of “Moderate Buy” and an average price target of $62.60.

Institutional Investors Weigh In On United Parks & Resorts

Institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC bought a new position in shares of United Parks & Resorts during the 3rd quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new stake in United Parks & Resorts during the third quarter worth $28,000. Blue Trust Inc. purchased a new position in United Parks & Resorts in the third quarter worth $30,000. Public Employees Retirement System of Ohio bought a new position in United Parks & Resorts in the 3rd quarter valued at $32,000. Finally, KBC Group NV purchased a new stake in shares of United Parks & Resorts during the 3rd quarter valued at $54,000.

About United Parks & Resorts

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.