ORLANDO, FL – United Parks & Resorts Inc. (NYSE:PRKS), formerly known as SeaWorld (NYSE:PRKS) Entertainment, Inc., announced the results of its 2024 Annual Meeting of Stockholders, which took place on June 13. Shareholders voted on several key proposals, including the election of directors and the ratification of the company’s independent auditor for the current fiscal year.
The election saw all ten nominees successfully appointed to the Board of Directors to serve until the 2025 Annual Meeting and until their successors are elected and qualified. Ronald Bension, James Chambers, William Gray, Timothy Hartnett, Nathaniel Lipman, Yoshikazu Maruyama, Thomas E. Moloney, Neha Jogani Narang, Scott Ross, and Kimberly Schaefer will collectively navigate the company's strategic direction for the next year. While the majority of directors received overwhelming support, Ronald Bension and Neha Jogani Narang had notably more votes cast against their election compared to their peers.
In addition to the board elections, shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. The decision was met with strong approval, as indicated by the high number of affirmative votes.
Another significant outcome from the meeting was the advisory approval of the compensation paid to the company’s named executive officers. This non-binding vote reflects stockholder satisfaction with the executive compensation structure of United Parks & Resorts Inc.
The meeting, which met the quorum requirements set by the company’s bylaws, also provided an opportunity for stockholders to voice their opinions through their votes. The results of the meeting are a key indicator of shareholder sentiment and confidence in the company's governance practices.
In other recent news, United Parks & Resorts has garnered attention from several analyst firms. Mizuho increased the company's price target to $48 following the impressive first-quarter earnings for 2024, which surpassed market expectations. The company's revenue saw a year-over-year increase of $4 million, leading to a $7 million growth in EBITDA.
Citi also adjusted its price target for United Parks & Resorts to $59, maintaining a Neutral rating on the stock. The revision was prompted by the company's strong first-quarter results and improved future margin assumptions.
Meanwhile, Guggenheim initiated coverage on United Parks & Resorts with a Buy rating, setting a price target of $73. The firm highlighted the company's strong financial profile and potential growth catalysts.
In addition, United Parks & Resorts shareholders approved a $500 million share repurchase program, signaling confidence in the company's financial health. On the other hand, Mizuho initiated coverage with an underperform rating and a $47 price target, citing concerns about increased competition in the theme park industry. These are the recent developments around United Parks & Resorts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.