United Parks & Resorts Executive Sells Shares for $342,691

Byron Surrett, the Chief Park Operations Officer for Non-Florida Parks at United Parks & Resorts Inc. (NYSE:PRKS), recently sold 7,008 shares of the company’s common stock. The shares were sold at an average price of $48.9, resulting in a total transaction value of approximately $342,691.

Following this transaction, Surrett retains ownership of 11,050 shares in the company. The shares were sold in multiple transactions with prices ranging from $48.70 to $49.00. InvestingPro data reveals that while this insider sold shares, management has been actively buying back stock, with the company maintaining a strong financial health score of 2.53 out of 5. InvestingPro subscribers have access to 10 additional key insights about PRKS, along with comprehensive valuation metrics and analysis.

In other recent news, United Parks & Resorts reported fourth-quarter revenue of $384.4 million, slightly exceeding analyst projections. The company also achieved adjusted EBITDA of $144.5 million, surpassing both Mizuho (NYSE:MFG)’s forecast of $141.5 million and the Street’s estimate of $138.4 million. Despite this, the company missed its earnings per share forecast, posting $0.50 against an expected $0.61. Analysts at Guggenheim and Stifel have maintained a Buy rating on the stock, with Stifel raising the price target to $74 and Guggenheim adjusting it to $72, citing the company’s potential for growth and strategic initiatives. Meanwhile, Mizuho increased its price target to $45 but maintained an Underperform rating, highlighting concerns over operating costs. JPMorgan raised its price target to $63, maintaining a Neutral rating, and noted the challenges posed by competition and economic uncertainties. The company has set a target to cut $50 million in gross costs in 2025, aiming for record EBITDA, supported by new attractions and improved cost management.

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