United Parks & Resorts (NYSE:PRKS) Sees Unusually-High Trading Volume – What’s Next?

United Parks & Resorts Inc. (NYSE:PRKS) shares saw an uptick in trading volume on Tuesday . 1,411,589 shares were traded during mid-day trading, an increase of 76% from the previous session’s volume of 804,213 shares.The stock last traded at $52.32 and had previously closed at $52.23.

Analysts Set New Price Targets

Several analysts have recently commented on PRKS shares. Truist Financial lifted 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 report on Friday, November 8th. Macquarie reduced their price objective on shares of United Parks & Resorts from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Mizuho reaffirmed an “underperform” rating and set a $43.00 target price (down previously from $45.00) on shares of United Parks & Resorts in a research note on Friday, November 8th. B. Riley reissued a “buy” rating and issued a $71.00 target price on shares of United Parks & Resorts in a research report on Monday, October 7th. Finally, Guggenheim reduced their price target on shares of 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. One 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.60.

United Parks & Resorts Trading Up 1.0 %

The company has a fifty day moving average price of $56.51 and a two-hundred day moving average price of $53.48. The firm has a market capitalization of $2.90 billion, a PE ratio of 13.24 and a beta of 1.99.

United Parks & Resorts (NYSE:PRKS) last announced 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 analysts’ expectations of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $1.92 earnings per share. As a group, equities research analysts predict that United Parks & Resorts Inc. will post 3.96 earnings per share for the current year.

Insider Activity at United Parks & Resorts

In other United Parks & Resorts news, insider James Mikolaichik acquired 34,000 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $57.29 per share, with a total value of $1,947,860.00. Following the acquisition, the insider now owns 76,267 shares of the company’s stock, valued at $4,369,336.43. This trade represents a 80.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher L. Finazzo sold 13,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.62, for a total value of $723,060.00. Following the completion of the transaction, the insider now owns 132,439 shares of the company’s stock, valued at $7,366,257.18. The trade was a 8.94 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Trading of United Parks & Resorts

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

About United Parks & Resorts

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.