Six Flags Entertainment Corporation (NYSE:FUN – Get Free Report) insider Christopher Lawrence Bennett acquired 5,000 shares of Six Flags Entertainment stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $9.32 per share, for a total transaction of $46,600.00. Following the acquisition, the insider owned 51,697 shares in the company, valued at approximately $481,816.04. This represents a 10.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Six Flags Entertainment Trading Up 7.8%
Shares of FUN stock traded up $0.78 on Monday, reaching $10.78. 6,816,936 shares of the stock were exchanged, compared to its average volume of 2,720,461. The stock has a 50 day moving average price of $11.05 and a 200 day moving average price of $16.73. The stock has a market cap of $1.10 billion, a PE ratio of -1.18 and a beta of 0.50. Six Flags Entertainment Corporation has a one year low of $6.60 and a one year high of $26.28. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.52 and a quick ratio of 0.46.
Six Flags Entertainment (NYSE:FUN – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($3.59) earnings per share for the quarter, missing the consensus estimate of $1.93 by ($5.52). Six Flags Entertainment had a negative return on equity of 15.95% and a negative net margin of 31.91%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted ($2.20) earnings per share. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities research analysts forecast that Six Flags Entertainment Corporation will post -0.91 EPS for the current fiscal year.
Key Six Flags Entertainment News
Here are the key news stories impacting Six Flags Entertainment this week:
- Neutral Sentiment: JPMorgan lowered its price target to $12 from $22 and kept a neutral rating. The revised target is about 11% above the quoted share price, but the steep reduction signals a weaker outlook. JPMorgan analyst rating
- Negative Sentiment: Citigroup cut its target to $10 from $13 while retaining a neutral rating; that target is below the quoted share price, suggesting limited upside in its view. Citigroup analyst rating
- Negative Sentiment: A securities law firm announced an investigation into potential securities fraud following reports of safety issues and a sharp stock decline. The investigation is an allegation, not a finding, but adds legal and reputational uncertainty. Investigation announcement
- Negative Sentiment: CEO John Reilly said Six Flags has more debt than desired and plans to sell additional parks to reduce its approximately $5 billion debt burden. Asset sales could help strengthen the balance sheet, but the debt level and potential loss of park assets concern investors. Report on debt and park sales
- Negative Sentiment: Barclays also reportedly lowered its price target, adding to the recent analyst caution. Barclays target cut
- Negative Sentiment: News that the company will close a long-running theme park may weigh on sentiment, although the report provided no financial details on the closure’s impact. Theme park closure report
Analyst Upgrades and Downgrades
A number of research firms have commented on FUN. Zacks Research raised shares of Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. UBS Group reduced their price target on Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Barclays reduced their target price on Six Flags Entertainment from $22.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup decreased their target price on Six Flags Entertainment from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Truist Financial lowered their price target on Six Flags Entertainment from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.85.
Read Our Latest Analysis on FUN
Institutional Trading of Six Flags Entertainment
A number of large investors have recently made changes to their positions in FUN. Maryland State Retirement & Pension System increased its holdings in Six Flags Entertainment by 53.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,804 shares of the company’s stock worth $244,000 after purchasing an additional 7,940 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Six Flags Entertainment in the third quarter valued at about $4,884,000. Lido Advisors LLC bought a new stake in shares of Six Flags Entertainment in the third quarter valued at about $1,022,000. State of Wyoming boosted its position in shares of Six Flags Entertainment by 27.3% during the third quarter. State of Wyoming now owns 33,581 shares of the company’s stock worth $360,000 after buying an additional 7,194 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Six Flags Entertainment by 138.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 48,500 shares of the company’s stock worth $519,000 after buying an additional 28,200 shares during the period. Institutional investors own 64.65% of the company’s stock.
Six Flags Entertainment Company Profile
Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.
The company serves guests primarily in the United States, as well as in Canada and Mexico.
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