Pinnacle Associates Ltd. Sells 148,065 Shares of SeaWorld Entertainment, Inc. (NYSE:SEAS)

Pinnacle Associates Ltd. reduced its stake in shares of SeaWorld Entertainment, Inc. (NYSE:SEASGet Rating) by 13.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 941,137 shares of the company’s stock after selling 148,065 shares during the period. SeaWorld Entertainment makes up approximately 1.2% of Pinnacle Associates Ltd.’s portfolio, making the stock its 6th biggest holding. Pinnacle Associates Ltd. owned 1.29% of SeaWorld Entertainment worth $70,058,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of SeaWorld Entertainment during the 4th quarter valued at about $89,764,000. Canada Pension Plan Investment Board grew its position in shares of SeaWorld Entertainment by 19.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,253,190 shares of the company’s stock valued at $81,282,000 after acquiring an additional 205,490 shares during the period. Candlestick Capital Management LP grew its position in shares of SeaWorld Entertainment by 13.3% during the 4th quarter. Candlestick Capital Management LP now owns 1,119,347 shares of the company’s stock valued at $72,601,000 after acquiring an additional 131,464 shares during the period. Renaissance Technologies LLC grew its position in shares of SeaWorld Entertainment by 23.6% during the 4th quarter. Renaissance Technologies LLC now owns 962,800 shares of the company’s stock valued at $62,447,000 after acquiring an additional 183,600 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of SeaWorld Entertainment by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 902,533 shares of the company’s stock valued at $58,538,000 after acquiring an additional 50,414 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SEAS. Stifel Nicolaus dropped their target price on SeaWorld Entertainment from $94.00 to $66.00 in a research report on Wednesday, July 20th. KeyCorp cut SeaWorld Entertainment to a “sector weight” rating in a research report on Tuesday, July 19th. Citigroup decreased their price target on shares of SeaWorld Entertainment from $62.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. B. Riley decreased their price target on shares of SeaWorld Entertainment from $94.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Finally, StockNews.com lowered shares of SeaWorld Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, SeaWorld Entertainment presently has an average rating of “Moderate Buy” and an average target price of $74.33.

SeaWorld Entertainment Price Performance

SEAS opened at $45.29 on Thursday. The company’s 50 day simple moving average is $47.85 and its two-hundred day simple moving average is $59.53. SeaWorld Entertainment, Inc. has a 1-year low of $40.01 and a 1-year high of $76.57. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 12.34 and a beta of 2.15.

SeaWorld Entertainment (NYSE:SEASGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. SeaWorld Entertainment had a net margin of 18.25% and a negative return on equity of 690.93%. The business had revenue of $270.70 million for the quarter, compared to analyst estimates of $263.23 million. During the same period last year, the company posted ($0.57) EPS. The business’s revenue was up 57.5% on a year-over-year basis. On average, equities analysts anticipate that SeaWorld Entertainment, Inc. will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marc Swanson sold 4,000 shares of SeaWorld Entertainment stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $41.07, for a total transaction of $164,280.00. Following the sale, the chief executive officer now owns 174,129 shares of the company’s stock, valued at approximately $7,151,478.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

SeaWorld Entertainment Profile

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SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. The company 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

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

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