First Trust Direct Indexing L.P. Takes Position in SeaWorld Entertainment, Inc. (NYSE:SEAS)

Posted by on Jul 19th, 2023

First Trust Direct Indexing L.P. acquired a new stake in shares of SeaWorld Entertainment, Inc. (NYSE:SEAS – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,564 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SEAS. Invesco Ltd. lifted its holdings in shares of SeaWorld Entertainment by 579.7% during the 1st quarter. Invesco Ltd. now owns 1,122,612 shares of the company’s stock valued at $83,566,000 after purchasing an additional 957,438 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in SeaWorld Entertainment by 3,606.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 807,922 shares of the company’s stock worth $60,142,000 after acquiring an additional 786,122 shares during the last quarter. Renaissance Technologies LLC raised its stake in SeaWorld Entertainment by 51.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,293,500 shares of the company’s stock worth $69,215,000 after acquiring an additional 441,000 shares during the last quarter. Cibc World Markets Corp purchased a new position in SeaWorld Entertainment in the 4th quarter worth $17,926,000. Finally, JAT Capital Mgmt LP raised its stake in SeaWorld Entertainment by 71.3% in the 4th quarter. JAT Capital Mgmt LP now owns 675,099 shares of the company’s stock worth $36,125,000 after acquiring an additional 281,102 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on SeaWorld Entertainment from $58.00 to $60.00 in a research note on Wednesday, May 10th. Morgan Stanley assumed coverage on SeaWorld Entertainment in a research note on Thursday, April 20th. They issued an “overweight” rating and a $70.00 target price for the company. The Goldman Sachs Group assumed coverage on SeaWorld Entertainment in a research note on Wednesday, May 31st. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities restated a “buy” rating and issued a $69.00 target price on shares of SeaWorld Entertainment in a research note on Wednesday, March 22nd. Finally, StockNews.com initiated coverage on SeaWorld Entertainment in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Insider Activity

In other news, insider Kyle Robert Miller sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.12, for a total transaction of $55,120.00. Following the sale, the insider now directly owns 30,709 shares in the company, valued at approximately $1,692,680.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Swanson sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $59.31, for a total value of $237,240.00. Following the transaction, the chief executive officer now directly owns 156,537 shares of the company’s stock, valued at approximately $9,284,209.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kyle Robert Miller sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.12, for a total transaction of $55,120.00. Following the completion of the transaction, the insider now directly owns 30,709 shares in the company, valued at $1,692,680.08. The disclosure for this sale can be found here. Insiders have sold 12,341 shares of company stock worth $716,060 in the last ninety days. Company insiders own 1.10% of the company’s stock.

SeaWorld Entertainment Stock Performance

Shares of SEAS opened at $52.67 on Wednesday. SeaWorld Entertainment, Inc. has a fifty-two week low of $43.10 and a fifty-two week high of $68.19. The company has a market capitalization of $3.37 billion, a P/E ratio of 12.82 and a beta of 1.93. The business’s 50-day moving average is $56.66 and its two-hundred day moving average is $58.44.

SeaWorld Entertainment (NYSE:SEAS – Get Free Report) last posted its earnings results on Tuesday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.07). SeaWorld Entertainment had a net margin of 16.18% and a negative return on equity of 66.21%. The business had revenue of $293.40 million for the quarter, compared to analyst estimates of $281.40 million. During the same quarter last year, the business earned ($0.12) earnings per share. SeaWorld Entertainment’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that SeaWorld Entertainment, Inc. will post 5 EPS for the current year.

SeaWorld Entertainment Company Profile

(Free Report)

SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.

Further Reading

Institutional Ownership by Quarter for SeaWorld Entertainment (NYSE:SEAS)

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