SeaWorld Entertainment, Inc. (NYSE:SEAS) Downgraded to Market Perform at FBR & Co
FBR & Co lowered shares of SeaWorld Entertainment, Inc. (NYSE:SEAS) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday morning. They currently have $15.00 price objective on the stock, down from their prior price objective of $20.00.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a buy rating and set a $23.00 price target on shares of SeaWorld Entertainment in a report on Wednesday, May 24th. Janney Montgomery Scott reiterated a buy rating and set a $25.00 price target on shares of SeaWorld Entertainment in a report on Friday, June 16th. SunTrust Banks, Inc. initiated coverage on SeaWorld Entertainment in a report on Wednesday, April 12th. They set a buy rating and a $22.00 price target on the stock. ValuEngine upgraded SeaWorld Entertainment from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded SeaWorld Entertainment from a strong sell rating to a hold rating in a report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $16.58.
SeaWorld Entertainment (NYSE:SEAS) traded up 0.63% on Wednesday, hitting $12.76. 3,240,631 shares of the stock were exchanged. The company’s 50 day moving average price is $14.78 and its 200-day moving average price is $17.10. SeaWorld Entertainment has a one year low of $11.10 and a one year high of $20.13. The company’s market cap is $1.10 billion.
SeaWorld Entertainment (NYSE:SEAS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.32 by $0.77. SeaWorld Entertainment had a positive return on equity of 23.32% and a negative net margin of 13.95%. The company had revenue of $373.80 million for the quarter, compared to the consensus estimate of $395.24 million. During the same quarter last year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts predict that SeaWorld Entertainment will post ($0.67) EPS for the current fiscal year.
In other news, major shareholder Hill Path Capital Partners Lp bought 805,000 shares of SeaWorld Entertainment stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $17.97 per share, with a total value of $14,465,850.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter J. Crage sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $18.20, for a total value of $54,600.00. Following the completion of the transaction, the chief financial officer now directly owns 275,435 shares of the company’s stock, valued at $5,012,917. The disclosure for this sale can be found here. Insiders bought 3,692,475 shares of company stock valued at $64,331,513 over the last three months. 3.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SEAS. Hill Path Capital LP boosted its position in shares of SeaWorld Entertainment by 172.8% in the second quarter. Hill Path Capital LP now owns 12,024,537 shares of the company’s stock valued at $195,639,000 after buying an additional 7,616,675 shares during the period. Vanguard Group Inc. boosted its position in shares of SeaWorld Entertainment by 3.7% in the second quarter. Vanguard Group Inc. now owns 5,552,907 shares of the company’s stock valued at $90,345,000 after buying an additional 197,177 shares during the period. Van Berkom & Associates Inc. purchased a new position in shares of SeaWorld Entertainment during the first quarter valued at approximately $54,199,000. Dimensional Fund Advisors LP boosted its position in shares of SeaWorld Entertainment by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,839,176 shares of the company’s stock valued at $46,194,000 after buying an additional 43,358 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of SeaWorld Entertainment by 6.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 2,800,000 shares of the company’s stock valued at $45,556,000 after buying an additional 160,000 shares during the period.
About SeaWorld Entertainment
SeaWorld Entertainment, Inc is a theme park and entertainment company. The Company owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. As of December 31, 2016, the Company had a diversified portfolio of 12 destination and regional theme parks that are located across the United States.
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