United Parks & Resorts (NYSE:PRKS) Trading 4.4% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRKS shares. Truist Financial cut their target price on United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Guggenheim raised their price objective on United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. UBS Group assumed coverage on United Parks & Resorts in a research report on Wednesday. They issued a “neutral” rating and a $49.00 target price on the stock. Mizuho raised their price target on shares of United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. Finally, Macquarie cut their price objective on shares of 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, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.33.

United Parks & Resorts Stock Performance

The firm has a market capitalization of $2.30 billion, a PE ratio of 10.47 and a beta of 1.61. The firm’s 50 day moving average price is $48.86 and its 200-day moving average price is $52.56.

Insiders Place Their Bets

In other United Parks & Resorts news, insider Byron Surrett sold 7,008 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 11,050 shares in the company, valued at approximately $540,345. This represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of United Parks & Resorts

Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in United Parks & Resorts in the 3rd quarter worth about $32,000. R Squared Ltd acquired a new stake in shares of United Parks & Resorts in the fourth quarter worth approximately $72,000. KBC Group NV increased its position in shares of United Parks & Resorts by 60.2% during the fourth quarter. KBC Group NV now owns 1,698 shares of the company’s stock worth $95,000 after purchasing an additional 638 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in United Parks & Resorts by 267.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,839 shares of the company’s stock valued at $103,000 after purchasing an additional 1,339 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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 in 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.