Six Flags Entertainment (NYSE:FUN) Shares Down 8.9% – Time to Sell?

Six Flags Entertainment Corporation (NYSE:FUN) shares dropped 8.9% on Monday . The company traded as low as $16.66 and last traded at $16.61. Approximately 416,184 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,527,079 shares. The stock had previously closed at $18.24.

Wall Street Analysts Forecast Growth

FUN has been the subject of a number of research analyst reports. Mizuho increased their target price on shares of Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. The Goldman Sachs Group dropped their price objective on shares of Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Barclays reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Six Flags Entertainment in a research note on Monday. UBS Group reaffirmed a “buy” rating on shares of Six Flags Entertainment in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a research note on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.79.

Six Flags Entertainment Stock Up 2.0%

The company has a debt-to-equity ratio of 9.42, a quick ratio of 0.48 and a current ratio of 0.58. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -1.07 and a beta of 0.39. The stock’s fifty day moving average is $16.38 and its two-hundred day moving average is $19.17.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, February 19th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.60). The company had revenue of $650.09 million for the quarter, compared to the consensus estimate of $602.68 million. Six Flags Entertainment had a negative net margin of 51.58% and a positive return on equity of 3.77%. Six Flags Entertainment’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D grew its holdings in Six Flags Entertainment by 29.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 54,325 shares of the company’s stock worth $1,653,000 after purchasing an additional 12,425 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Six Flags Entertainment by 56.5% in the second quarter. Envestnet Asset Management Inc. now owns 61,081 shares of the company’s stock worth $1,859,000 after purchasing an additional 22,054 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Six Flags Entertainment by 127.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 92,328 shares of the company’s stock worth $2,810,000 after purchasing an additional 51,713 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Six Flags Entertainment by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 14,479 shares of the company’s stock valued at $441,000 after acquiring an additional 552 shares during the last quarter. Finally, Daymark Wealth Partners LLC purchased a new stake in shares of Six Flags Entertainment during the 2nd quarter worth approximately $554,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.