In a recent transaction, Byron Surrett, the Chief Park Operations Officer for non-Florida parks at United Parks & Resorts Inc. (NYSE:PRKS), sold 1,424 shares of the company’s common stock. The sale took place on May 14, 2024, with the stock priced at $54.54 per share, resulting in a total transaction value of $77,664.
This move by Surrett comes as part of his trading activities disclosed in the latest filings with the Securities and Exchange Commission. Following the transaction, Surrett still owns a substantial number of shares in the company, with his holdings totaling 13,656 shares of United Parks & Resorts Inc.
Investors closely monitor insider sales as they can provide insights into an executive’s confidence in the company's current status and future prospects. The sale by Surrett represents a notable change in his investment in the company, though it's important to note that such transactions could be motivated by a variety of personal financial needs or portfolio strategies rather than a commentary on the company’s future.
United Parks & Resorts Inc., formerly known as SeaWorld (NYSE:PRKS) Entertainment, Inc., operates in the services sector, focusing on miscellaneous amusement and recreation. With its headquarters located in Orlando, Florida, United Parks & Resorts Inc. is incorporated in Delaware and has been a significant player in the amusement park and resort industry.
Investors and market analysts often review the details of insider transactions as part of their due diligence. The information provided in these filings, including the number of shares bought or sold, the transaction prices, and the resulting ownership stakes, is considered valuable data for assessing market trends and the financial health of a company.
For those tracking United Parks & Resorts Inc., the latest sale by a top executive is a piece of the puzzle in understanding the company's stock performance and the actions of its key insiders.
InvestingPro Insights
As investors digest the recent insider transaction at United Parks & Resorts Inc. (NYSE:PRKS), it's beneficial to consider key financial metrics and analyst insights that paint a broader picture of the company's performance. According to real-time data from InvestingPro, United Parks & Resorts Inc. has a market capitalization of $3.32 billion, indicating its substantial size within the amusement and recreation industry.
The company's P/E ratio stands at 14.28, which has adjusted to a slightly more attractive 12.41 when looking at the last twelve months as of Q1 2024. This suggests a potentially favorable valuation relative to the company’s earnings. Despite a marginal revenue decline of -1.32% over the last twelve months, the company maintains a strong gross profit margin of 50.9%, reflecting its ability to retain a significant portion of sales as gross profit.
Among the InvestingPro Tips, it's notable that analysts predict the company will be profitable this year and that it has been profitable over the last twelve months. This aligns with the operating income margin of 29.33% and a robust return on assets of 9.53%, reinforcing the company's financial stability and potential for growth. The stock's price movements have been quite volatile, which may attract certain investors looking for opportunities in price fluctuations.
For those looking to delve deeper into United Parks & Resorts Inc.'s financial standing and future prospects, there are additional InvestingPro Tips available. These include observations on the company's short-term obligations compared to its liquid assets and its performance over the last five years, which can be accessed through InvestingPro's platform. To explore these insights further and benefit from an exclusive discount, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are 7 additional InvestingPro Tips listed for United Parks & Resorts Inc. that can help investors make more informed decisions.
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