United Parks & Resorts (NYSE:PRKS) Trading Up 4.4% – Here’s What Happened

United Parks & Resorts Inc. (NYSE:PRKS) shot up 4.4% during mid-day trading on Wednesday . The company traded as high as $40.71 and last traded at $40.21. 235,854 shares were traded during trading, a decline of 74% from the average session volume of 897,500 shares. The stock had previously closed at $38.51.

Analysts Set New Price Targets

A number of research analysts have weighed in on PRKS shares. Macquarie cut their price objective on shares of United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Barclays assumed coverage on United Parks & Resorts in a research note on Friday, March 14th. They issued an “equal weight” rating and a $50.00 price target for the company. Guggenheim raised their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Mizuho upped their target price on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research note on Thursday, February 27th. Finally, UBS Group assumed coverage on shares of United Parks & Resorts in a research note on Wednesday. They issued a “neutral” rating and a $49.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.17.

United Parks & Resorts Price Performance

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 10.07 and a beta of 1.61. The firm has a fifty day moving average of $49.42 and a 200 day moving average of $52.73.

Insiders Place Their Bets

In other news, insider Byron Surrett sold 7,008 shares of United Parks & Resorts 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. The trade was a 38.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in United Parks & Resorts in the third quarter valued at about $32,000. R Squared Ltd purchased a new stake in shares of United Parks & Resorts in the 4th quarter valued at approximately $72,000. KBC Group NV lifted its holdings in shares of United Parks & Resorts by 60.2% in 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 boosted its position in shares of United Parks & Resorts by 267.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock worth $103,000 after purchasing an additional 1,339 shares during the period. Finally, GAMMA Investing LLC increased its holdings in United Parks & Resorts by 3,233.3% in the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company’s stock valued at $114,000 after purchasing an additional 2,425 shares during the last quarter.

United Parks & Resorts Company 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.