Y Intercept Hong Kong Ltd Has $2.81 Million Stock Position in Six Flags Entertainment Corporation $FUN

Y Intercept Hong Kong Ltd lifted its position in Six Flags Entertainment Corporation (NYSE:FUN) by 127.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 92,328 shares of the company’s stock after purchasing an additional 51,713 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Six Flags Entertainment were worth $2,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FUN. Veracity Capital LLC lifted its stake in shares of Six Flags Entertainment by 20.0% in the second quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock worth $769,000 after buying an additional 4,214 shares during the last quarter. Balefire LLC raised its stake in Six Flags Entertainment by 73.7% during the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock valued at $2,786,000 after purchasing an additional 38,832 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock valued at $287,000 after purchasing an additional 484 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $175,000 after purchasing an additional 1,717 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Six Flags Entertainment by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock valued at $1,198,000 after purchasing an additional 335 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Six Flags Entertainment Stock Down 5.0%

NYSE FUN opened at $22.56 on Friday. The firm has a market cap of $2.28 billion, a PE ratio of -4.65 and a beta of 0.71. Six Flags Entertainment Corporation has a one year low of $20.00 and a one year high of $49.77. The stock’s 50 day simple moving average is $23.05 and its 200 day simple moving average is $28.75. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.53). The business had revenue of $930.39 million for the quarter, compared to the consensus estimate of $999.82 million. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The business’s revenue was up 62.8% on a year-over-year basis. As a group, sell-side analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on FUN. JPMorgan Chase & Co. cut their target price on shares of Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. Capital One Financial set a $28.00 price objective on Six Flags Entertainment in a research report on Tuesday, October 7th. UBS Group reduced their price objective on Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Morgan Stanley reduced their price objective on Six Flags Entertainment from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Oppenheimer reduced their price objective on Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.