United Parks & Resorts (NYSE:PRKS) Stock Price Down 5% on Analyst Downgrade

Shares of United Parks & Resorts Inc. (NYSE:PRKS) dropped 5% during trading on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. Approximately 103,739 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 887,195 shares. The stock had previously closed at $50.97.

Several other research firms also recently commented on PRKS. Mizuho upped their price objective on United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. Barclays began coverage on United Parks & Resorts in a research report on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target on the stock. Guggenheim lifted their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Macquarie lowered their price objective on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.18.

Insider Transactions at United Parks & Resorts

In related news, insider Byron Surrett sold 7,008 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $48.90, for a total transaction of $342,691.20. Following the sale, the insider now owns 11,050 shares of the company’s stock, valued at approximately $540,345. This represents a 38.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Trading of United Parks & Resorts

A number of large investors have recently modified their holdings of PRKS. Public Employees Retirement System of Ohio purchased a new stake in United Parks & Resorts in the third quarter valued at approximately $32,000. R Squared Ltd purchased a new stake in shares of United Parks & Resorts during the 4th quarter valued at $72,000. KBC Group NV lifted its holdings in shares of United Parks & Resorts by 60.2% during the 4th quarter. KBC Group NV now owns 1,698 shares of the company’s stock worth $95,000 after acquiring an additional 638 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in United Parks & Resorts by 267.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Schechter Investment Advisors LLC bought a new position in United Parks & Resorts in the fourth quarter valued at $209,000.

United Parks & Resorts Stock Down 0.8 %

The stock has a 50-day simple moving average of $51.18 and a two-hundred day simple moving average of $53.26. The firm has a market cap of $2.65 billion, a PE ratio of 12.05 and a beta of 1.96.

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.