Shares of Six Flags Entertainment Corporation (NYSE:FUN – Get Free Report) dropped 3.8% during mid-day trading on Tuesday. The company traded as low as $7.98 and last traded at $7.9980. 440,459 shares were traded during trading, a decline of 82% from the average session volume of 2,392,808 shares. The stock had previously closed at $8.31.
Wall Street Analysts Forecast Growth
FUN has been the topic of a number of research analyst reports. Northcoast Research initiated coverage on Six Flags Entertainment in a report on Wednesday, July 8th. They issued a “neutral” rating on the stock. Barclays cut their price objective on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. UBS Group decreased their target price 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. The Goldman Sachs Group set a $15.00 price target on Six Flags Entertainment in a research note on Friday, August 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Six Flags Entertainment in a research note on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.38.
Get Our Latest Stock Report on FUN
Six Flags Entertainment Stock Down 10.0%
The business’s 50 day moving average price is $13.09 and its 200-day moving average price is $17.42. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. The company has a market cap of $723.99 million, a P/E ratio of -0.41 and a beta of 0.45.
Six Flags Entertainment (NYSE:FUN – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.15). The business had revenue of $864.92 million for the quarter, compared to analyst estimates of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. On average, analysts anticipate that Six Flags Entertainment Corporation will post -0.91 earnings per share for the current fiscal year.
Insider Buying and Selling at Six Flags Entertainment
In other news, CEO John Reilly acquired 15,713 shares of Six Flags Entertainment stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer owned 297,736 shares in the company, valued at $4,704,228.80. This represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new position in Six Flags Entertainment in the third quarter valued at approximately $177,000. WINTON GROUP Ltd boosted its stake in Six Flags Entertainment by 22.9% during the 2nd quarter. WINTON GROUP Ltd now owns 241,990 shares of the company’s stock worth $5,154,000 after acquiring an additional 45,158 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Six Flags Entertainment during the second quarter valued at approximately $898,000. Integrated Wealth Concepts LLC bought a new stake in Six Flags Entertainment in the second quarter valued at approximately $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Six Flags Entertainment in the second quarter worth $432,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.
About Six Flags Entertainment
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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