Quinn Opportunity Partners LLC Buys 113,828 Shares of Six Flags Entertainment Corporation $FUN

Quinn Opportunity Partners LLC increased its stake in Six Flags Entertainment Corporation (NYSE:FUN) by 250.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,328 shares of the company’s stock after purchasing an additional 113,828 shares during the quarter. Quinn Opportunity Partners LLC owned about 0.16% of Six Flags Entertainment worth $4,848,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aurora Investment Counsel lifted its holdings in shares of Six Flags Entertainment by 114.8% in the second quarter. Aurora Investment Counsel now owns 33,674 shares of the company’s stock worth $1,025,000 after buying an additional 17,995 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Six Flags Entertainment in the 2nd quarter worth approximately $656,000. Balefire LLC lifted its stake in Six Flags Entertainment by 73.7% in the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock worth $2,786,000 after purchasing an additional 38,832 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in 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 valued at $2,810,000 after buying an additional 51,713 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Six Flags Entertainment by 29.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 54,325 shares of the company’s stock worth $1,653,000 after acquiring an additional 12,425 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Trading Down 5.3%

NYSE FUN opened at $15.49 on Wednesday. The stock has a market cap of $1.57 billion, a P/E ratio of -3.19 and a beta of 0.69. The stock has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $27.88. Six Flags Entertainment Corporation has a fifty-two week low of $14.81 and a fifty-two week high of $49.77. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.42 and a current ratio of 0.52.

Six Flags Entertainment (NYSE:FUN) last posted its earnings results on Friday, November 7th. The company reported ($11.77) EPS for the quarter, missing the consensus estimate of $2.24 by ($14.01). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business posted $4.21 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FUN shares. Barclays cut their price target on shares of Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday. Guggenheim set a $43.00 price objective on Six Flags Entertainment and gave the company a “buy” rating in a research report on Thursday, August 7th. Citigroup cut their target price on Six Flags Entertainment from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Truist Financial cut shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group decreased their price objective on Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.21.

Six Flags Entertainment Company Profile

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.