In a recent transaction, an officer of United Parks & Resorts Inc. (NYSE:PRKS) has sold a portion of their holdings in the company. On August 27, 2024, the officer, whose title is listed as "See Remarks" in the company's filing, sold 545 shares of common stock at a price of $49.44 per share, resulting in a total sale value of $26,944.
This sale has adjusted the officer's total holdings in United Parks & Resorts Inc. to 722 shares following the transaction. The sale was executed at a uniform price, without any equity swaps involved, indicating a direct cash transaction.
The details of the transaction come from a Form 4 filing with the Securities and Exchange Commission, which is used to report changes in company insiders' ownership stakes. The filing was signed on behalf of the officer by Dan Bollinger, under the power of attorney, on August 29, 2024.
United Parks & Resorts Inc., formerly known as SeaWorld (NYSE:PRKS) Entertainment, Inc., operates in the amusement and recreation services industry and is incorporated in Delaware. The company's business address and the reporting officer's address are both located at 6240 Sea Harbor Drive, Orlando, Florida.
Investors often monitor insider sales and purchases as they may provide insights into the company's financial health or future prospects. However, such transactions can occur for various reasons and do not necessarily indicate a change in the company's outlook. The officer's recent sale represents a single transaction and does not necessarily reflect broader trends within United Parks & Resorts Inc. or the market as a whole.
In other recent news, United Parks & Resorts has made significant strides in its financial flexibility by expanding its credit facility from $390 million to $700 million. The company also reported a slight increase in Q2 attendance, with approximately 6.2 million guests, up from last year's 6.1 million. Projected revenues for the quarter are estimated to be between $495 million and $500 million, aligning closely with the previous year's Q2 revenues. However, a decrease in Adjusted EBITDA is expected, ranging from $215 million to $220 million, a drop from the $224.2 million reported in Q2 of 2023.
Investors should note that Goldman Sachs (NYSE:GS) has downgraded United Parks & Resorts from "Buy" to "Neutral" due to concerns about the company's performance in the second half of the year. Conversely, Truist Securities and B.Riley have raised their price targets on United Parks & Resorts shares based on the company's rising demand trends and in anticipation of a merger.
These are recent developments surrounding United Parks & Resorts Inc. Please remember that this article is based on information from past articles and should consider the risks outlined by the company in its SEC filings.
InvestingPro Insights
United Parks & Resorts Inc. (NYSE:PRKS) has been the subject of interest for investors and market analysts, especially in light of recent insider transactions. According to real-time data from InvestingPro, United Parks & Resorts has a market capitalization of approximately $2.85 billion. The company's performance metrics indicate a Price-to-Earnings (P/E) ratio of 12.86, which adjusts to a more favorable 10.42 when looking at the last twelve months as of Q2 2024.
The financial health of United Parks & Resorts can also be glimpsed through its Gross Profit Margin, which stands at a solid 51.24% for the same period. However, it's important to note that the company's short-term obligations exceed its liquid assets, which might be a point of consideration for risk-averse investors. On the upside, an InvestingPro Tip highlights that 4 analysts have revised their earnings upwards for the upcoming period, suggesting a potential positive outlook for the company's profitability.
Investors tracking the stock price of United Parks & Resorts should be aware of its volatility, with a 1-month price total return showing a decrease of 7.11% but a slight positive 1-year price total return of 0.29%. This could be indicative of the market's short-term sentiment versus its long-term performance. Additionally, the InvestingPro platform lists several more tips for United Parks & Resorts, providing investors with deeper insights into the company's financial nuances and future prospects.
For those interested in further details and analysis, there are additional InvestingPro Tips available, which can be accessed by visiting the dedicated page for United Parks & Resorts Inc. on the InvestingPro website.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.