Six Flags Entertainment (NYSE:FUN) Trading 6.6% Higher – What’s Next?

Six Flags Entertainment Corporation (NYSE:FUN)’s share price rose 6.6% during trading on Wednesday . The stock traded as high as $15.12 and last traded at $15.18. 320,951 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,154,236 shares. The stock had previously closed at $14.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FUN. Barclays cut their target price on Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Guggenheim dropped their price objective on Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Six Flags Entertainment in a research note on Wednesday, August 12th. Citigroup reiterated a “neutral” rating on shares of Six Flags Entertainment in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.93.

Six Flags Entertainment Trading Up 6.7%

The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The firm has a market cap of $1.55 billion, a P/E ratio of -0.87 and a beta of 0.38. The firm’s 50-day simple moving average is $17.97 and its 200 day simple moving average is $18.66.

Insider Buying and Selling at Six Flags Entertainment

In other news, Director Rehan Jaffer bought 125,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at $114,709,000. This represents a 2.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John T. Reilly bought 15,713 shares of the stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $15.80 per share, for a total transaction of $248,265.40. Following the completion of the purchase, the chief executive officer owned 297,736 shares of the company’s stock, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have acquired 265,713 shares of company stock valued at $6,135,765. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Six Flags Entertainment during the 2nd quarter valued at approximately $339,057,000. Morgan Stanley raised its holdings in Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock valued at $145,324,000 after acquiring an additional 3,629,445 shares during the period. Darlington Partners Capital Management LP raised its holdings in Six Flags Entertainment by 20.2% during the 2nd quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock valued at $264,741,000 after acquiring an additional 1,460,000 shares during the period. Dendur Capital LP lifted its position in shares of Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock worth $75,987,000 after acquiring an additional 290,000 shares in the last quarter. Finally, Rush Island Management LP bought a new position in shares of Six Flags Entertainment in the second quarter worth $115,454,000. Institutional investors own 64.65% of the company’s stock.

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.