We recommend a LONG position in SeaWorld Entertainment (NYSE:SEAS). SeaWorld is a leading theme park and entertainment company, with 11 parks across 5 states and a market cap of $1.8bn. In 2009, Blackstone took SeaWorld private for $2.7bn in an acquisition that transferred ownership from Anheuser-Busch. On August 18th, 2013, Blackstone proceeded to take SeaWorld public with the stock opening at $33.53 a share. Post IPO, largely due to management missteps and negative publicity stemming from theBlackfish documentary, SEAS fell 56% and hit a low of $15.11 per share. Although we believe SeaWorld's initial response, consisting of in-park discounts and a modest increase in marketing was insufficient, it has since ousted its CEO, Jim Atchinson, and hired Joel Manby to replace him, announced significant cost cuts, initiated the Blue World project and developed an intensive marketing strategy to counteract the effects of Blackfish. Read more