Six Flags Entertainment (NYSE:FUN) Shares Down 6.1% – Here’s Why

Shares of Six Flags Entertainment Corporation (NYSE:FUNGet Free Report) dropped 6.1% on Friday . The company traded as low as $17.91 and last traded at $17.81. Approximately 783,701 shares traded hands during trading, a decline of 64% from the average session volume of 2,155,325 shares. The stock had previously closed at $18.97.

Analysts Set New Price Targets

Several research firms have commented on FUN. The Goldman Sachs Group boosted their target price on Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Zacks Research cut Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Northcoast Research initiated coverage on shares of Six Flags Entertainment in a research report on Wednesday, July 8th. They issued a “neutral” rating on the stock. Barclays lifted their price objective on Six Flags Entertainment from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup lowered their price objective on Six Flags Entertainment from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Six Flags Entertainment has an average rating of “Hold” and a consensus target price of $25.07.

View Our Latest Stock Analysis on FUN

Six Flags Entertainment Stock Down 7.2%

The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. The company has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $18.64. The firm has a market capitalization of $1.80 billion, a PE ratio of -1.08 and a beta of 0.38.

Six Flags Entertainment (NYSE:FUNGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) EPS for the quarter, topping the consensus estimate of ($2.71) by $0.06. The firm had revenue of $225.63 million during the quarter, compared to analyst estimates of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. Analysts forecast that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insider Transactions at Six Flags Entertainment

In other news, insider Richard M. Haddrill acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $19.08 per share, for a total transaction of $190,800.00. Following the acquisition, the insider owned 230,117 shares of the company’s stock, valued at approximately $4,390,632.36. This trade represents a 4.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rehan Jaffer purchased 125,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This represents a 2.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 265,000 shares of company stock valued at $6,173,850 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC raised its stake in shares of Six Flags Entertainment by 145.5% in the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock valued at $25,000 after acquiring an additional 975 shares in the last quarter. Atlas Wealth LLC acquired a new stake in shares of Six Flags Entertainment during the first quarter worth about $26,000. Danske Bank A S acquired a new stake in shares of Six Flags Entertainment in the third quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in Six Flags Entertainment during the 4th quarter worth $28,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

(Get Free Report)

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.

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