United Parks & Resorts (NYSE:PRKS) Price Target Lowered to $50.00 at Morgan Stanley

United Parks & Resorts (NYSE:PRKS) had its price objective lowered by equities research analysts at Morgan Stanley from $56.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 11.05% from the stock’s previous close.

A number of other research firms also recently weighed in on PRKS. Barclays began coverage on United Parks & Resorts in a research note on Friday, March 14th. They set an “equal weight” rating and a $50.00 price target for the company. Stifel Nicolaus decreased their target price on shares of United Parks & Resorts from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, April 11th. UBS Group assumed coverage on shares of United Parks & Resorts in a report on Wednesday, April 9th. They set a “neutral” rating and a $49.00 price target on the stock. Guggenheim upped their price objective on shares of United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Truist Financial cut their target price on United Parks & Resorts from $62.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.85.

United Parks & Resorts Stock Down 2.1 %

Shares of United Parks & Resorts stock traded down $0.96 on Tuesday, hitting $45.03. 202,392 shares of the company traded hands, compared to its average volume of 894,222. United Parks & Resorts has a 12-month low of $37.68 and a 12-month high of $60.83. The company has a market cap of $2.48 billion, a PE ratio of 11.29 and a beta of 1.61. The company has a 50-day moving average price of $45.75 and a 200 day moving average price of $51.77.

Insider Activity at United Parks & Resorts

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

Institutional Investors Weigh In On United Parks & Resorts

Large investors have recently modified their holdings of the business. Allianz Asset Management GmbH raised its stake in shares of United Parks & Resorts by 690.9% in the 1st quarter. Allianz Asset Management GmbH now owns 46,662 shares of the company’s stock valued at $2,121,000 after purchasing an additional 40,762 shares during the period. Hunter Associates Investment Management LLC grew its holdings in shares of United Parks & Resorts by 15.5% during the first quarter. Hunter Associates Investment Management LLC now owns 34,741 shares of the company’s stock worth $1,591,000 after buying an additional 4,667 shares in the last quarter. Envestnet Asset Management Inc. raised its position in United Parks & Resorts by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,451 shares of the company’s stock valued at $2,566,000 after buying an additional 3,488 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in United Parks & Resorts by 0.3% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 556,918 shares of the company’s stock valued at $25,317,000 after acquiring an additional 1,609 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in United Parks & Resorts by 13.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 17,096 shares of the company’s stock worth $777,000 after acquiring an additional 1,966 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.