HG Vora Capital Management LLC Makes New Investment in United Parks & Resorts Inc. (NYSE:PRKS)

HG Vora Capital Management LLC purchased a new stake in United Parks & Resorts Inc. (NYSE:PRKS) during the third quarter, according to its most recent filing with the SEC. The firm purchased 1,300,000 shares of the company’s stock, valued at approximately $65,780,000. United Parks & Resorts accounts for 4.8% of HG Vora Capital Management LLC’s portfolio, making the stock its 8th biggest holding. HG Vora Capital Management LLC owned about 2.36% of United Parks & Resorts at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hill Path Capital LP purchased a new stake in United Parks & Resorts during the 3rd quarter worth approximately $1,376,588,000. Simcoe Capital Management LLC purchased a new position in United Parks & Resorts in the third quarter valued at $110,983,000. Goldentree Asset Management LP acquired a new stake in United Parks & Resorts in the third quarter valued at $71,882,000. River Road Asset Management LLC acquired a new stake in shares of United Parks & Resorts during the third quarter worth about $66,841,000. Finally, Pinnacle Associates Ltd. purchased a new position in shares of United Parks & Resorts during the third quarter worth about $37,679,000.

Analyst Ratings Changes

Several research analysts recently issued reports on PRKS shares. The Goldman Sachs Group downgraded United Parks & Resorts from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $63.00 to $53.00 in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of United Parks & Resorts from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of United Parks & Resorts from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Stifel Nicolaus reduced their target price on shares of United Parks & Resorts from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Mizuho reaffirmed an “underperform” rating and set a $43.00 price objective (down from $45.00) on shares of United Parks & Resorts in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Parks & Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

Insider Activity at United Parks & Resorts

In related news, insider James Mikolaichik purchased 34,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $57.29 per share, with a total value of $1,947,860.00. Following the purchase, the insider now owns 76,267 shares of the company’s stock, valued at $4,369,336.43. This trade represents a 80.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider George Anthony Taylor sold 23,837 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $52.94, for a total value of $1,261,930.78. Following the transaction, the insider now owns 85,463 shares of the company’s stock, valued at approximately $4,524,411.22. This trade represents a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

United Parks & Resorts Stock Up 2.8 %

NYSE PRKS opened at $60.29 on Tuesday. The firm has a market cap of $3.32 billion, a PE ratio of 15.11 and a beta of 2.00. United Parks & Resorts Inc. has a 52 week low of $44.72 and a 52 week high of $60.83. The business’s fifty day simple moving average is $53.79 and its 200-day simple moving average is $52.39.

United Parks & Resorts (NYSE:PRKS) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). United Parks & Resorts had a negative return on equity of 76.13% and a net margin of 13.85%. The firm had revenue of $545.90 million for the quarter, compared to analysts’ expectations of $550.47 million. During the same period in the prior year, the firm posted $1.92 earnings per share. United Parks & Resorts’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts expect that United Parks & Resorts Inc. will post 3.97 EPS for the current year.

About United Parks & Resorts

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.