Man Group plc Invests $1.05 Million in United Parks & Resorts Inc. $PRKS

Man Group plc bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,092 shares of the company’s stock, valued at approximately $1,055,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in United Parks & Resorts in the 3rd quarter worth about $28,000. Group One Trading LLC bought a new position in shares of United Parks & Resorts during the 2nd quarter worth approximately $31,000. Global Retirement Partners LLC purchased a new position in shares of United Parks & Resorts in the 2nd quarter worth approximately $31,000. Rockefeller Capital Management L.P. boosted its stake in shares of United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company’s stock worth $31,000 after buying an additional 551 shares during the last quarter. Finally, Arax Advisory Partners bought a new position in shares of United Parks & Resorts in the fourth quarter valued at approximately $31,000.

United Parks & Resorts Stock Up 5.9%

Shares of PRKS stock opened at $40.99 on Thursday. The company has a 50 day moving average of $45.24 and a 200-day moving average of $39.60. United Parks & Resorts Inc. has a 12-month low of $28.77 and a 12-month high of $56.95. The firm has a market cap of $1.86 billion, a P/E ratio of 16.14, a PEG ratio of 3.64 and a beta of 1.14.

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

Wall Street Analyst Weigh In

PRKS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target 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. Guggenheim boosted their price objective on United Parks & Resorts from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on United Parks & Resorts from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Mizuho set a $51.00 target price on United Parks & Resorts in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 target price (down from $43.00) on shares of United Parks & Resorts in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.30.

Insider Activity at United Parks & Resorts

In other news, insider Christopher L. Finazzo sold 6,622 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $44.20, for a total transaction of $292,692.40. Following the completion of the transaction, the insider owned 123,663 shares in the company, valued at approximately $5,465,904.60. This represents a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate 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.