United Parks & Resorts (NYSE:PRKS) Stock Price Down 5% After Analyst Downgrade

United Parks & Resorts Inc. (NYSE:PRKS) shares traded down 5% on Tuesday after Truist Financial lowered their price target on the stock from $64.00 to $62.00. Truist Financial currently has a buy rating on the stock. United Parks & Resorts traded as low as $48.85 and last traded at $48.44. 103,739 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 887,195 shares. The stock had previously closed at $50.97.

Several other research firms also recently weighed in on PRKS. Mizuho boosted 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 note on Thursday, February 27th. Guggenheim boosted their target price on United Parks & Resorts from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Barclays started 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. Finally, Macquarie lowered 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.18.

Insiders Place Their Bets

In other news, insider Byron Surrett sold 7,008 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $48.90, for a total value of $342,691.20. Following the sale, the insider now directly owns 11,050 shares of the company’s stock, valued at $540,345. The trade was a 38.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in United Parks & Resorts in the third quarter worth $32,000. R Squared Ltd bought a new position in United Parks & Resorts in the 4th quarter valued at approximately $72,000. KBC Group NV lifted its holdings 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 valued at $95,000 after purchasing an additional 638 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of United Parks & Resorts by 267.8% during the fourth 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 in the last quarter. Finally, Schechter Investment Advisors LLC bought a new stake in United Parks & Resorts in the 4th quarter worth about $209,000.

United Parks & Resorts Stock Performance

The firm has a market cap of $2.65 billion, a PE ratio of 12.05 and a beta of 1.96. The stock has a 50-day simple moving average of $51.18 and a two-hundred day simple moving average of $53.26.

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.