Citigroup Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Six Flags Entertainment (NYSE:FUN) had its price target decreased by equities research analysts at Citigroup from $13.00 to $10.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup‘s price objective would indicate a potential downside of 8.93% from the stock’s current price.

FUN has been the topic of several other reports. Guggenheim cut their price objective on shares of Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. JPMorgan Chase & Co. decreased their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $9.00 price target on shares of Six Flags Entertainment in a research note on Friday. Zacks Research raised Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Oppenheimer cut their price target on Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Six Flags Entertainment currently has an average rating of “Hold” and an average price target of $15.62.

Six Flags Entertainment Stock Performance

NYSE FUN traded up $0.98 during trading hours on Monday, hitting $10.98. The company had a trading volume of 2,426,436 shares, compared to its average volume of 2,699,681. Six Flags Entertainment has a fifty-two week low of $6.60 and a fifty-two week high of $26.28. The company has a quick ratio of 0.46, a current ratio of 0.52 and a debt-to-equity ratio of 43.34. The business has a fifty day simple moving average of $11.05 and a 200-day simple moving average of $16.73. The firm has a market cap of $1.12 billion, a P/E ratio of -1.19 and a beta of 0.50.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($3.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($5.52). Six Flags Entertainment had a negative net margin of 31.91% and a negative return on equity of 15.95%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted ($2.20) EPS. The business’s revenue was down 11.0% compared to the same quarter last year. Equities analysts predict that Six Flags Entertainment will post -0.91 EPS for the current year.

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, CEO John Reilly purchased 15,713 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System increased its stake in Six Flags Entertainment by 53.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,804 shares of the company’s stock valued at $244,000 after buying an additional 7,940 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Six Flags Entertainment during the 3rd quarter worth about $4,884,000. Lido Advisors LLC acquired a new stake in shares of Six Flags Entertainment in the 3rd quarter worth approximately $1,022,000. State of Wyoming lifted its stake in shares of Six Flags Entertainment by 27.3% in the 3rd quarter. State of Wyoming now owns 33,581 shares of the company’s stock worth $360,000 after acquiring an additional 7,194 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Six Flags Entertainment by 138.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 48,500 shares of the company’s stock valued at $519,000 after acquiring an additional 28,200 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.