United Parks & Resorts (NYSE:PRKS) Shares Gap Up on Insider Buying Activity

United Parks & Resorts Inc. (NYSE:PRKS)’s share price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $56.62, but opened at $58.27. United Parks & Resorts shares last traded at $57.63, with a volume of 46,504 shares trading hands.

Specifically, insider James Mikolaichik purchased 34,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $57.29 per share, with a total value 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 trade represents a 80.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRKS shares. Mizuho restated an “underperform” rating and set a $43.00 price target (down previously from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. 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. B. Riley reiterated a “buy” rating and set a $71.00 target price on shares of United Parks & Resorts in a report on Monday, October 7th. Finally, Citigroup boosted their price target on United Parks & Resorts from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, United Parks & Resorts has an average rating of “Moderate Buy” and an average target price of $62.60.

United Parks & Resorts Stock Up 1.5 %

The firm has a market cap of $3.19 billion, a P/E ratio of 14.34 and a beta of 2.00. The company’s 50 day simple moving average is $53.26 and its 200-day simple moving average is $52.24.

United Parks & Resorts (NYSE:PRKS) last released its earnings results on Thursday, November 7th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.15). The business had revenue of $545.90 million for the quarter, compared to the consensus estimate of $550.47 million. United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. Equities research analysts predict that United Parks & Resorts Inc. will post 3.97 EPS for the current year.

Institutional Investors Weigh In On United Parks & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. bought a new stake in shares of United Parks & Resorts in the 3rd quarter valued at about $246,000. Virtu Financial LLC bought a new position in United Parks & Resorts in the third quarter worth approximately $270,000. Geode Capital Management LLC purchased a new stake in United Parks & Resorts during the third quarter worth $37,472,000. ABS Direct Equity Fund LLC bought a new stake in United Parks & Resorts during the 3rd quarter valued at $3,542,000. Finally, Barclays PLC purchased a new position in shares of United Parks & Resorts in the 3rd quarter valued at $18,222,000.

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.