Six Flags Entertainment (NYSE:FUN) Price Target Raised to $28.00 at Truist Financial

Six Flags Entertainment (NYSE:FUN) had its price target hoisted by research analysts at Truist Financial from $27.00 to $28.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 17.19% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Mizuho increased their target price on shares of Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. raised shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price target for the company in a research note on Friday, May 8th. Morgan Stanley set a $18.00 price objective on shares of Six Flags Entertainment in a report on Friday, February 20th. Finally, Weiss Ratings cut shares of Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Six Flags Entertainment has an average rating of “Hold” and an average price target of $25.15.

Six Flags Entertainment Trading Down 2.0%

Shares of NYSE:FUN traded down $0.50 during midday trading on Friday, reaching $23.89. The company’s stock had a trading volume of 125,622 shares, compared to its average volume of 2,094,596. Six Flags Entertainment has a fifty-two week low of $12.51 and a fifty-two week high of $33.50. 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 firm has a 50 day moving average price of $19.79 and a two-hundred day moving average price of $17.47. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -1.46 and a beta of 0.39.

Six Flags Entertainment (NYSE:FUN) last released its 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 business had revenue of $225.63 million during the quarter, compared to analysts’ expectations of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. As a group, analysts forecast that Six Flags Entertainment will post -0.28 earnings per share for the current year.

Insider Transactions at Six Flags Entertainment

In other news, Director Marilyn G. Spiegel purchased 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the acquisition, the director owned 15,161 shares in the company, valued at $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard M. Haddrill acquired 10,000 shares of Six Flags Entertainment stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the transaction, the insider directly owned 230,117 shares in the company, valued at $4,390,632.36. This represents a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 15,000 shares of company stock worth $286,350 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Trading of Six Flags Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG lifted its holdings in Six Flags Entertainment by 533.4% during the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after acquiring an additional 4,446,104 shares during the period. JANA Partners Management LP purchased a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at $92,015,000. Rush Island Management LP bought a new stake in shares of Six Flags Entertainment during the 2nd quarter worth $115,454,000. Morgan Stanley raised its stake in shares of Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after purchasing an additional 3,629,445 shares during the period. Finally, EdgePoint Investment Group Inc. purchased a new position in shares of Six Flags Entertainment in the 3rd quarter worth about $70,764,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

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.