Destinations

One of SeaWorld’s Investors Just Sold Its $31 Million Stake

Skift Take

It’s hard to see a situation where SeaWorld doesn’t recover, but this still doesn’t bode well for bets Blackstone and others made on the theme park company.

— Jason Clampet

Leon Cooperman’s Omega Advisors Inc. sold its stake in SeaWorld Entertainment Inc., according to a person with knowledge of the matter, who asked not to be identified because the information is private.

Omega bought 1.09 million shares of SeaWorld during the second quarter with a market value of $30.8 million as of June 30, according to a filing today with the U.S. Securities and Exchange Commission.

SeaWorld has slumped 36 percent in the past two days to the lowest since it started trading in April 2013. The Orlando-based company yesterday reported earnings that missed analysts’ estimates and said controversy about the treatment of captive whales in its theme-park shows hurt attendance. A critical documentary called “Blackfish” about its performing killer whales was released last year.

Blackstone Group LP, the world’s largest private-equity firm, owns 22 percent of SeaWorld shares.

To contact the reporter on this story: Meghan Morris in New York at [email protected] contact the editor responsible for this story: Pierre Paulden at [email protected]

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