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United Parks & Resorts Inc. (NYSE:PRKS) Chief Commercial Officer Christopher L. Finazzo recently sold 13,000 shares of the company’s common stock. The transaction occurred on December 13, 2024 at a price of $55.62 per share, for a total value of approximately $723,060. Following this sale, Finazzo directly holds 132,439 shares. This transaction was reported on a Form 4 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 refinanced its debt with new term loans totaling about $1.54 billion, according to a regulatory filing. This move aims to more effectively manage the company’s $2.37 billion in total debt. Additionally, United Parks & Resorts expanded its credit facility from $390 million to $700 million, further increasing its financial flexibility.
In terms of human resources, United Parks & Resorts welcomed Bill Myers as its new chief accounting officer. Myers brings extensive experience from various financial leadership positions and further strengthens the company’s financial management team.
Regarding analyst notes: Mizuho (NYSE:) Securities revised its outlook for the company, lowering its price target to $45 due to a forecast slowdown in park attendance. On the other hand, B.Riley maintained a Buy rating and $71 price target on the company, indicating an increase in revenue-based lease payments for its San Diego park. However, Goldman Sachs downgraded the company to “Neutral” from “Buy,” citing concerns about the company’s performance in the second half of the year.
These are the latest developments in United Parks & Resorts’ operations that reflect the company’s continued efforts to effectively manage its financial health and workforce.
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