Christopher L. Finazzo, Chief Commercial Officer of United Parks & Resorts Inc. (NYSE:PRKS), recently sold 13,000 shares of the company’s common stock. The transaction took place on December 13, 2024, at a price of $55.62 per share, totaling approximately $723,060. Following this sale, Finazzo holds 132,439 shares directly. This transaction was reported in a Form 4 filing with the U.S. Securities and Exchange Commission.
In other recent news, United Parks & Resorts Inc. has made significant financial adjustments and personnel changes. The company has refinanced its debt with new term loans totaling approximately $1.54 billion, according to a regulatory filing. This move is aimed at managing its total debt of $2.37 billion more effectively. Additionally, United Parks & Resorts expanded its credit facility from $390 million to $700 million, further enhancing its financial flexibility.
On the personnel front, United Parks & Resorts has welcomed Bill Myers as the new Chief Accounting Officer. Myers brings a wealth of experience from various financial leadership roles, further strengthening the company’s financial management team.
In terms of analyst notes, Mizuho (NYSE:) Securities has revised its outlook for the company, reducing the price target to $45 due to a projected slowdown in park attendance. On the other hand, B.Riley maintained a Buy rating and a price target of $71 for the company, highlighting an increase in revenue-based lease payments for its San Diego park. However, Goldman Sachs downgraded the company from “Buy” to “Neutral”, citing concerns about the company’s performance in the second half of the year.
These are the recent developments in United Parks & Resorts’ operations, which reflect the company’s ongoing efforts to manage its financial health and personnel effectively.
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