Six Flags Entertainment (NYSE:FUN) Hits New 1-Year Low – Should You Sell?

Six Flags Entertainment Corporation (NYSE:FUN) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.80 and last traded at $19.5970, with a volume of 98545 shares trading hands. The stock had previously closed at $20.38.

Analysts Set New Price Targets

Several research firms have recently weighed in on FUN. Barclays dropped their price target on shares of Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus cut their price target on shares of Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a report on Friday, July 18th. UBS Group dropped their target price on shares of Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Capital One Financial set a $28.00 target price on shares of Six Flags Entertainment in a research note on Tuesday, October 7th. Finally, Truist Financial lowered Six Flags Entertainment from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Wednesday, September 3rd. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.07.

Six Flags Entertainment Stock Down 3.7%

The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The stock has a 50-day moving average of $22.81 and a 200-day moving average of $28.43. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -4.07 and a beta of 0.69.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.53). The firm had revenue of $930.39 million during 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%.Six Flags Entertainment’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 EPS for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Six Flags Entertainment by 17.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,821 shares of the company’s stock valued at $193,000 after acquiring an additional 1,329 shares in the last quarter. State of Wyoming boosted its stake in Six Flags Entertainment by 120.2% during the 3rd quarter. State of Wyoming now owns 21,465 shares of the company’s stock worth $488,000 after acquiring an additional 11,719 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Six Flags Entertainment by 4.9% in the third quarter. Principal Financial Group Inc. now owns 489,230 shares of the company’s stock worth $11,115,000 after purchasing an additional 22,687 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Six Flags Entertainment by 303.1% during the third quarter. AlphaQuest LLC now owns 2,838 shares of the company’s stock worth $64,000 after purchasing an additional 2,134 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Six Flags Entertainment by 2.2% in the third quarter. Arizona State Retirement System now owns 28,421 shares of the company’s stock worth $646,000 after purchasing an additional 610 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.