HG Vora Capital Management sold 1,175,000 shares of United Parks & Resorts for $53.5 million in the third quarter, reducing their stake to 425,000 shares valued at $22 million. The company’s position now represents 3% of 13F AUM, down from 11% in the prior quarter. United Parks & Resorts Inc. operates a portfolio of twelve theme parks under various brands, with revenue falling 6.2% to $511.9 million in the third quarter. Shares of United Parks & Resorts closed at $31.97 on Friday, down 44% over the past year, underperforming the S&P 500.

Read more at Nasdaq: Why HG Vora Dumped $53.5 Million in United Parks Amid a 44% Stock Slide