United Parks & Resorts: Near-Term Performance Seems Bleak

Rabyesang/iStock via Getty Images Summary I am neutral on United Parks & Resorts (NYSE:PRKS). My summarized thesis is that near-term performance is likely to stay weak given the poor discretionary spending environment, quarter-to-date foot traffic data, and peers' comments. There is also a variable element—weather—that could further weigh on attendance performance. Hence, while I like that management is aggressively buying back shares and the stock valuation is near an all-time low, I am not willing to take ...