Barclays Initiates Coverage on United Parks & Resorts (NYSE:PRKS)

Analysts at Barclays started coverage on shares of United Parks & Resorts (NYSE:PRKS) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $50.00 price target on the stock. Barclays‘s target price suggests a potential upside of 9.71% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. 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 note on Thursday, March 6th. 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 research report on Thursday, February 27th. Finally, Mizuho boosted their target price on United Parks & Resorts from $43.00 to $45.00 and gave the stock an “underperform” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.36.

United Parks & Resorts Price Performance

NYSE PRKS opened at $45.58 on Friday. The firm’s fifty day moving average price is $52.55 and its 200 day moving average price is $53.34. United Parks & Resorts has a 12 month low of $44.72 and a 12 month high of $60.83. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 11.42 and a beta of 1.96.

Insider Buying and Selling

In other news, insider Byron Surrett sold 7,008 shares of the stock in a transaction 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 sale, the insider now owns 11,050 shares of the company’s stock, valued at $540,345. This represents a 38.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On United Parks & Resorts

Hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. grew its stake in shares of United Parks & Resorts by 191.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 51,741 shares of the company’s stock valued at $2,907,000 after acquiring an additional 34,000 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in United Parks & Resorts by 15.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,548,403 shares of the company’s stock worth $255,575,000 after purchasing an additional 599,043 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in United Parks & Resorts by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 99,270 shares of the company’s stock worth $5,578,000 after acquiring an additional 12,236 shares during the period. Squarepoint Ops LLC acquired a new position in United Parks & Resorts during the 4th quarter valued at approximately $571,000. Finally, Tidal Investments LLC bought a new position in United Parks & Resorts in the 4th quarter worth about $484,000.

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.