NewEdge Wealth LLC Makes New $649,000 Investment in United Parks & Resorts Inc. $PRKS

NewEdge Wealth LLC bought a new stake in shares of United Parks & Resorts Inc. (NYSE:PRKS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,585 shares of the company’s stock, valued at approximately $649,000.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of United Parks & Resorts in the 3rd quarter worth approximately $28,000. Rockefeller Capital Management L.P. increased its holdings in United Parks & Resorts by 183.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock valued at $31,000 after buying an additional 551 shares during the period. Global Retirement Partners LLC purchased a new position in United Parks & Resorts during the second quarter valued at approximately $31,000. Arax Advisory Partners bought a new position in United Parks & Resorts in the fourth quarter worth approximately $31,000. Finally, Empowered Funds LLC bought a new position in United Parks & Resorts in the fourth quarter worth approximately $31,000.

Wall Street Analysts Forecast Growth

PRKS has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. UBS Group reissued a “neutral” rating and issued a $45.00 price target on shares of United Parks & Resorts in a research report on Monday, June 15th. Northcoast Research assumed coverage on United Parks & Resorts in a research note on Wednesday, July 8th. They set a “neutral” rating for the company. Zacks Research cut United Parks & Resorts from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on United Parks & Resorts in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of “Hold” and a consensus price target of $47.30.

United Parks & Resorts Stock Performance

Shares of PRKS opened at $45.49 on Friday. The stock has a 50-day moving average of $45.92 and a two-hundred day moving average of $39.24. United Parks & Resorts Inc. has a one year low of $28.77 and a one year high of $56.95. The stock has a market cap of $2.06 billion, a P/E ratio of 17.91, a P/E/G ratio of 4.26 and a beta of 1.16.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.33). The firm had revenue of $483.32 million for the quarter, compared to analysts’ expectations of $492.10 million. United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. Analysts predict that United Parks & Resorts Inc. will post 2.85 EPS for the current fiscal year.

Insider Activity at United Parks & Resorts

In related news, insider Christopher L. Finazzo sold 6,622 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total value of $292,692.40. Following the sale, the insider owned 123,663 shares in the company, valued at $5,465,904.60. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

United Parks & Resorts Profile

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.