United Parks & Resorts (NYSE:PRKS) Releases Quarterly Earnings Results, Misses Estimates By $0.63 EPS

United Parks & Resorts (NYSE:PRKS) issued its quarterly earnings results on Thursday. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63), Zacks reports. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The business had revenue of $511.85 million during the quarter, compared to analysts’ expectations of $540.43 million. During the same period in the prior year, the company posted $2.08 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis.

United Parks & Resorts Trading Up 4.8%

PRKS traded up $1.68 on Friday, hitting $36.82. 2,044,827 shares of the company’s stock were exchanged, compared to its average volume of 911,231. The stock has a fifty day moving average of $50.95 and a two-hundred day moving average of $48.65. United Parks & Resorts has a twelve month low of $34.77 and a twelve month high of $60.83. The firm has a market cap of $2.03 billion, a PE ratio of 9.85 and a beta of 1.38.

Institutional Trading of United Parks & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in United Parks & Resorts by 58.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company’s stock valued at $30,859,000 after purchasing an additional 251,522 shares during the period. HRT Financial LP lifted its stake in United Parks & Resorts by 84.4% in the second quarter. HRT Financial LP now owns 154,209 shares of the company’s stock valued at $7,270,000 after buying an additional 70,594 shares during the last quarter. Jane Street Group LLC lifted its stake in United Parks & Resorts by 73.2% in the second quarter. Jane Street Group LLC now owns 79,933 shares of the company’s stock valued at $3,769,000 after buying an additional 33,794 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of United Parks & Resorts by 151.8% during the second quarter. Brevan Howard Capital Management LP now owns 38,199 shares of the company’s stock valued at $1,801,000 after acquiring an additional 23,026 shares during the period. Finally, Holocene Advisors LP grew its position in shares of United Parks & Resorts by 26.0% during the second quarter. Holocene Advisors LP now owns 105,533 shares of the company’s stock worth $4,976,000 after acquiring an additional 21,779 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Parks & Resorts in a research report on Wednesday. Mizuho upped their price target on shares of United Parks & Resorts from $44.00 to $46.00 and gave the company an “underperform” rating in a report on Wednesday, August 13th. Stifel Nicolaus reduced their price objective on shares of United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Zacks Research raised shares of United Parks & Resorts from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Truist Financial boosted their target price on shares of United Parks & Resorts from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.40.

United Parks & Resorts announced that its Board of Directors has authorized a share repurchase plan on Friday, September 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.