The Manufacturers Life Insurance Company Acquires New Shares in United Parks & Resorts Inc. (NYSE:PRKS)

The Manufacturers Life Insurance Company bought a new position in United Parks & Resorts Inc. (NYSE:PRKS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,710 shares of the company’s stock, valued at approximately $997,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Hexagon Capital Partners LLC purchased a new position in United Parks & Resorts in the third quarter worth about $25,000. Exchange Traded Concepts LLC purchased a new position in shares of United Parks & Resorts in the third quarter worth approximately $28,000. Blue Trust Inc. bought a new stake in United Parks & Resorts during the third quarter valued at approximately $30,000. KBC Group NV purchased a new position in shares of United Parks & Resorts during the 3rd quarter worth $54,000. Finally, Amalgamated Bank bought a new stake in shares of United Parks & Resorts during the 3rd quarter valued at $65,000.

Insider Activity

In other United Parks & Resorts news, insider James Mikolaichik bought 34,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $57.29 per share, for a total transaction of $1,947,860.00. Following the transaction, the insider now directly owns 76,267 shares of the company’s stock, valued at approximately $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 the SEC website. Insiders own 1.10% of the company’s stock.

United Parks & Resorts Trading Down 1.7 %

Shares of NYSE PRKS opened at $55.70 on Friday. The stock’s fifty day simple moving average is $55.02 and its two-hundred day simple moving average is $52.75. United Parks & Resorts Inc. has a 12-month low of $44.72 and a 12-month high of $60.83. The stock has a market capitalization of $3.06 billion, a PE ratio of 13.96 and a beta of 2.00.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.08 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 company had revenue of $545.90 million for the quarter, compared to analyst estimates of $550.47 million. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts predict that United Parks & Resorts Inc. will post 3.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRKS has been the topic of several recent research reports. Macquarie decreased their price objective on United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Citigroup lifted their target price on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Truist Financial upped their price target on shares of United Parks & Resorts from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Guggenheim lowered their price objective on United Parks & Resorts from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, B. Riley reiterated a “buy” rating and set a $71.00 price target on shares of United Parks & Resorts in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.