Six Flags Entertainment (NYSE:FUN) Trading Down 6.1% – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) was down 6.1% during mid-day trading on Friday . The company traded as low as $17.91 and last traded at $17.81. Approximately 783,701 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 2,155,325 shares. The stock had previously closed at $18.97.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research downgraded shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Citizens Jmp initiated coverage on shares of Six Flags Entertainment in a report on Monday, June 29th. They set a “market outperform” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Friday, May 8th. Wall Street Zen downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Guggenheim lowered their target price on shares of Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.07.

Six Flags Entertainment Trading Down 7.5%

The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.08 and a beta of 0.38. The business has a fifty day moving average price of $20.97 and a 200 day moving average price of $18.64.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.71) by $0.06. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. The business had revenue of $225.63 million for the quarter, compared to the consensus estimate of $207.49 million. On average, equities analysts expect that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Rehan Jaffer acquired 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was acquired 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 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marilyn G. Spiegel acquired 2,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $19.10 per share, with a total value of $47,750.00. Following the transaction, the director directly owned 15,161 shares of the company’s stock, valued at $289,575.10. The trade was a 19.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 265,000 shares of company stock valued at $6,173,850 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Six Flags Entertainment by 26.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock valued at $86,000 after acquiring an additional 586 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 722 shares during the period. Invesco Ltd. increased its position in shares of Six Flags Entertainment by 2.5% during the second quarter. Invesco Ltd. now owns 236,798 shares of the company’s stock valued at $7,206,000 after purchasing an additional 5,775 shares during the period. State Street Corp raised its stake in shares of Six Flags Entertainment by 0.8% in the second quarter. State Street Corp now owns 3,465,487 shares of the company’s stock valued at $105,455,000 after purchasing an additional 27,848 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Six Flags Entertainment by 249.9% in the second quarter. Qube Research & Technologies Ltd now owns 651,844 shares of the company’s stock valued at $19,836,000 after purchasing an additional 465,572 shares in the last quarter. 64.65% of the stock is currently owned by 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.