United Parks & Resorts (NYSE:PRKS) Reaches New 52-Week Low – What’s Next?

United Parks & Resorts Inc. (NYSE:PRKS)’s share price reached a new 52-week low on Monday . The company traded as low as $44.10 and last traded at $44.56, with a volume of 422397 shares. The stock had previously closed at $46.30.

Wall Street Analyst Weigh In

PRKS has been the subject of a number of analyst reports. Macquarie reduced their price objective on United Parks & Resorts from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Guggenheim upped their target price on shares of United Parks & Resorts from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Truist Financial reduced their price objective on United Parks & Resorts from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Mizuho boosted their target price on shares of United Parks & Resorts from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, February 27th. Finally, 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. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.18.

United Parks & Resorts Trading Down 2.0 %

The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 11.38 and a beta of 1.96. The company has a fifty day moving average price of $50.97 and a two-hundred day moving average price of $53.23.

Insider Activity

In related 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 value of $342,691.20. Following the completion of the transaction, the insider now owns 11,050 shares in the company, valued at approximately $540,345. The trade was a 38.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRKS. Hill Path Capital LP purchased a new position in shares of United Parks & Resorts during the third quarter worth about $1,376,588,000. Simcoe Capital Management LLC purchased a new position in United Parks & Resorts in the 3rd quarter valued at approximately $110,983,000. HG Vora Capital Management LLC acquired a new stake in United Parks & Resorts in the 3rd quarter valued at about $65,780,000. State Street Corp purchased a new stake in United Parks & Resorts in the 3rd quarter valued at approximately $42,787,000. Finally, Geode Capital Management LLC acquired a new stake in shares of United Parks & Resorts during the 3rd quarter worth about $37,472,000.

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.