SeaWorld Entertainment may be reaching the point where it needs to change its act.
The home of performing orca whales on Thursday reported greater-than-expected losses — sparking an investor stampede for the exits and harpooning the stock price, down 5.8 percent to $19.17.
Volume was more than three times the average.
Shares are down 42.8 percent over the last 12 months as attendance fell, with negative publicity surrounding its alleged mistreatment of animal trainers and orcas warding away some potential visitors to its theme parks.
The attendance plunge followed the July 2013 debut of the “Blackfish” documentary.
For 2014, attendance dipped to 22.4 million — from 23.4 million in 2013.
The negative publicity has lasted past the 18-month mark because it is fueled by social media, said a consultant who has met with SeaWorld. The traditional media cycle may have played itself out by now, the consultant said.
SeaWorld in December replaced longtime CEO Jim Atchison with Chairman David D’Alessandro on an interim basis.
One SeaWorld analyst, speaking anonymously because he hadn’t yet published his latest report, said the fourth-quarter results showed the Orlando, Fla., theme park operator may be beginning to show signs of a recovery.
Attendance and revenue declines were smaller than in previous quarters, he said.
Still, SeaWorld, which lists Blackstone Group as its largest shareholder, is way underwater compared to its $27 initial public offering opening price in April 2013.
The net loss in the fourth quarter grew to $25.4 million, from $13 million a year earlier. Revenue fell 2.8 percent to $264.5 million.
People for the Ethical Treatment of Animals, or Peta, has been pushing the company to release its orcas into seaside sanctuaries.
Peta has in its past reached compromises with other companies it has assailed.
These include apparel retailer Forever 21, which agreed to drop furs in 2004 and promoted a T-shirt with Peta.
Peta also targeted KFC in Canada and then promoted a new vegan sandwich after KFC Canada agreed to buy chicken from suppliers who treated their birds in a more humane fashion.