Charles Schwab Investment Management Inc. Invests $20.90 Million in United Parks & Resorts Inc. (NYSE:PRKS)

Charles Schwab Investment Management Inc. bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 412,999 shares of the company’s stock, valued at approximately $20,898,000. Charles Schwab Investment Management Inc. owned about 0.71% of United Parks & Resorts as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in United Parks & Resorts during the third quarter valued at approximately $739,000. Handelsbanken Fonder AB acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth approximately $390,000. Hexagon Capital Partners LLC purchased a new position in shares of United Parks & Resorts during the 3rd quarter valued at approximately $25,000. Perpetual Ltd acquired a new position in shares of United Parks & Resorts in the 3rd quarter valued at $16,862,000. Finally, Inspire Investing LLC purchased a new stake in United Parks & Resorts during the third quarter worth $411,000.

Insider Buying and Selling

In other United Parks & Resorts news, insider James Mikolaichik purchased 34,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $57.29 per share, for a total transaction of $1,947,860.00. Following the completion of the purchase, the insider now directly owns 76,267 shares in the company, valued at approximately $4,369,336.43. This represents a 80.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

United Parks & Resorts Trading Up 0.2 %

PRKS opened at $59.82 on Friday. The stock’s 50-day moving average price is $54.47 and its 200 day moving average price is $52.59. United Parks & Resorts Inc. has a 12-month low of $44.72 and a 12-month high of $60.83. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 14.99 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last released its earnings results 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). The business had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. United Parks & Resorts’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share. On average, research analysts forecast that United Parks & Resorts Inc. will post 3.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRKS shares. Guggenheim lowered their price target on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. B. Riley reiterated a “buy” rating and set a $71.00 target price on shares of United Parks & Resorts in a research report on Monday, October 7th. Mizuho reissued an “underperform” rating and issued a $43.00 price target (down previously from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial boosted their target price on shares of United Parks & Resorts from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.60.

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.