Six Flags Entertainment (NYSE:SIX) Cut to Neutral at B. Riley

B. Riley lowered shares of Six Flags Entertainment (NYSE:SIXGet Rating) from a buy rating to a neutral rating in a report issued on Tuesday morning, Marketbeat reports. They currently have $24.00 price objective on the stock, down from their prior price objective of $55.00.

Several other equities research analysts also recently commented on the stock. Rosenblatt Securities started coverage on shares of Six Flags Entertainment in a research note on Monday, April 25th. They set a buy rating and a $56.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Six Flags Entertainment from $57.00 to $56.00 in a research note on Friday, May 13th. Citigroup lowered their price objective on shares of Six Flags Entertainment from $51.00 to $41.00 in a research note on Friday, May 13th. StockNews.com started coverage on shares of Six Flags Entertainment in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, Truist Financial lowered their price objective on shares of Six Flags Entertainment from $46.00 to $32.00 in a research note on Friday, May 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $46.44.

NYSE SIX opened at $21.02 on Tuesday. The firm’s fifty day simple moving average is $31.09 and its two-hundred day simple moving average is $37.97. Six Flags Entertainment has a 12-month low of $19.91 and a 12-month high of $47.24. The firm has a market capitalization of $1.82 billion, a P/E ratio of 11.49 and a beta of 2.24.

Six Flags Entertainment (NYSE:SIXGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.31. Six Flags Entertainment had a net margin of 10.31% and a negative return on equity of 15.34%. The business had revenue of $138.10 million for the quarter, compared to analyst estimates of $122.26 million. During the same period in the previous year, the company earned ($1.12) earnings per share. The business’s revenue for the quarter was up 68.4% on a year-over-year basis. On average, analysts forecast that Six Flags Entertainment will post 2.55 EPS for the current year.

In other news, CFO Gary Mick acquired 1,325 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was bought at an average price of $23.82 per share, with a total value of $31,561.50. Following the completion of the acquisition, the chief financial officer now owns 30,000 shares of the company’s stock, valued at $714,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rehan Jaffer acquired 50,000 shares of the business’s stock in a transaction on Friday, May 27th. The stock was purchased at an average cost of $29.84 per share, with a total value of $1,492,000.00. Following the acquisition, the insider now directly owns 9,425,000 shares of the company’s stock, valued at approximately $281,242,000. The disclosure for this purchase can be found here. Insiders have purchased 553,325 shares of company stock valued at $16,049,162 over the last 90 days. 0.41% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highland Capital Management LLC increased its holdings in Six Flags Entertainment by 0.7% in the first quarter. Highland Capital Management LLC now owns 41,372 shares of the company’s stock valued at $1,800,000 after buying an additional 273 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Six Flags Entertainment by 1.6% during the fourth quarter. State of Michigan Retirement System now owns 19,629 shares of the company’s stock worth $836,000 after purchasing an additional 300 shares in the last quarter. Twin Lakes Capital Management LLC increased its stake in shares of Six Flags Entertainment by 0.3% during the first quarter. Twin Lakes Capital Management LLC now owns 100,098 shares of the company’s stock worth $4,354,000 after purchasing an additional 337 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Six Flags Entertainment by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $868,000 after purchasing an additional 400 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Six Flags Entertainment by 0.4% during the first quarter. New York State Common Retirement Fund now owns 103,878 shares of the company’s stock worth $4,519,000 after purchasing an additional 406 shares in the last quarter. 88.55% of the stock is owned by institutional investors.

About Six Flags Entertainment (Get Rating)

Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.

Further Reading

Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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