United Parks & Resorts exec sells over $1.6m in stock By Investing.com

Christopher Dold, the Chief Zoological Officer of United Parks & Resorts Inc. (NYSE:PRKS), has sold a substantial amount of company stock, according to a recent SEC filing. The transactions, which took place on June 6, 2024, involved the sale of 32,518 shares at a weighted average price of $51.54, totaling approximately $1,675,977.

The sales were executed in multiple transactions ranging from $51.20 to $52.09 per share. This information was disclosed as part of the filing, with Dold committing to provide further details about the number of shares sold at each price point upon request.

In addition to the sales, Dold also acquired shares through the exercise of stock options. Two separate transactions were reported: one for 2,432 shares at a price of $25.20 per share and another for 2,450 shares at $27.21 per share. These acquisitions amounted to a total of $127,950.

Following these transactions, Dold’s ownership of United Parks & Resorts Inc. common stock has adjusted, reflecting the latest buys and sells. The SEC filing provides a snapshot of the executive’s trading activity and current stake in the company.

Investors often monitor insider transactions as they can provide insights into executives’ perspectives on the company’s current valuation and future prospects. However, it is important to note that these transactions do not necessarily indicate a specific trend and can be influenced by a variety of factors personal to the executive.

In other recent news, United Parks & Resorts has been the focus of several analyst firms. Mizuho recently increased its price target for the company to $48, following the company’s first-quarter earnings for 2024, which exceeded market expectations. The company also reported a revenue increase of $4 million year-over-year, resulting in a $7 million growth in EBITDA. On the other hand, Citi updated its stance on United Parks & Resorts shares, raising the company’s price target to $59, while maintaining a neutral rating on the stock.

Guggenheim initiated coverage on United Parks & Resorts, assigning a buy rating to the stock with a price target of $73.00. The company was recognized for its strong financial foundation and potential for growth. Meanwhile, United Parks & Resorts shareholders approved a substantial $500 million share repurchase program, indicating a clear consensus on capital allocation strategies.

However, Mizuho initiated coverage on United Parks & Resorts with an underperform rating, setting a price target of $47.00 for the company’s shares. This rating suggests a cautious stance on the company’s future performance in light of increasing competition in the theme park industry. These are recent developments, and investors are keeping a close eye on the company’s performance and financial health.

InvestingPro Insights

As United Parks & Resorts Inc. (NYSE:PRKS) navigates through the year, the recent insider transactions by Christopher Dold have drawn attention to the company’s stock performance and financial health. Key metrics from InvestingPro reveal a snapshot of the company’s current valuation and potential future trajectory.

The company’s market capitalization stands at $3.17 billion, with a P/E ratio of 13.54, which adjusts to 11.79 when looking at the last twelve months as of Q1 2024. This suggests that investors are paying less for each dollar of earnings compared to the broader market, potentially indicating an undervalued stock. The revenue for the same period was reported at $1.73 billion, with a notable gross profit margin of 50.9%, reflecting the company’s ability to retain a significant portion of sales after accounting for the cost of goods sold.

InvestingPro Tips for United Parks & Resorts Inc. indicate that analysts are cautious about the company’s short-term financial health, as short term obligations exceed liquid assets. This could be a point of concern for investors considering the company’s ability to meet its immediate liabilities. On a brighter note, analysts predict the company will be profitable this year, a sentiment backed by the company being profitable over the last twelve months.

For those looking to delve deeper into United Parks & Resorts Inc.’s financials and stock performance, InvestingPro offers additional insights. There are 5 more InvestingPro Tips available, which can provide a more comprehensive understanding of the company’s position and future prospects. Interested readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

While insider transactions like those of Mr. Dold can offer a glimpse into the company’s internal perspective, the broader financial data and expert analysis provided by InvestingPro can equip investors with a more robust framework for making informed decisions.

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