United Parks & Resorts (NYSE:PRKS) Shares Gap Up Following Insider Buying Activity

United Parks & Resorts Inc. (NYSE:PRKS) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $56.62, but opened at $58.27. United Parks & Resorts shares last traded at $57.63, with a volume of 46,504 shares.

Specifically, insider James Mikolaichik purchased 34,000 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $57.29 per share, with a total value of $1,947,860.00. Following the completion of the acquisition, the insider now owns 76,267 shares in the company, valued at $4,369,336.43. This represents a 80.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and set a $71.00 price objective on shares of United Parks & Resorts in a research note on Monday, October 7th. Guggenheim dropped their price target on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group cut shares of United Parks & Resorts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $53.00 in a research report on Thursday, August 8th. Citigroup lifted their target price on shares of United Parks & Resorts from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Trading Up 1.1 %

The business has a fifty day moving average of $53.14 and a 200-day moving average of $52.21. The company has a market cap of $3.15 billion, a PE ratio of 14.44 and a beta of 2.00.

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

Hedge Funds 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 third quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of United Parks & Resorts in the 3rd quarter worth approximately $28,000. Blue Trust Inc. bought a new position in United Parks & Resorts during the 3rd quarter valued at approximately $30,000. Public Employees Retirement System of Ohio purchased a new position in United Parks & Resorts during the third quarter valued at $32,000. Finally, KBC Group NV bought a new stake in United Parks & Resorts in the third quarter worth $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.