Insider Buying: Six Flags Entertainment (NYSE:FUN) Insider Acquires $46,600.00 in Stock

Six Flags Entertainment Corporation (NYSE:FUN) insider Christopher Lawrence Bennett purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $9.32 per share, for a total transaction of $46,600.00. Following the purchase, the insider directly owned 51,697 shares of the company’s stock, valued at approximately $481,816.04. This represents a 10.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Six Flags Entertainment Price Performance

Shares of FUN stock traded up $0.78 during mid-day trading on Monday, reaching $10.78. The company’s stock had a trading volume of 6,816,936 shares, compared to its average volume of 2,720,461. Six Flags Entertainment Corporation has a 1-year low of $6.60 and a 1-year high of $26.28. The company has a market cap of $1.10 billion, a P/E ratio of -1.18 and a beta of 0.50. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.46 and a current ratio of 0.52. The firm’s 50-day moving average is $11.05 and its two-hundred day moving average is $16.73.

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

Hedge Funds Weigh In On Six Flags Entertainment

Several institutional investors have recently bought and sold shares of the business. Atlas Wealth LLC bought a new position in shares of Six Flags Entertainment in the first quarter valued at about $26,000. Integrated Wealth Concepts LLC bought a new stake in Six Flags Entertainment during the 2nd quarter worth about $31,000. Allworth Financial LP acquired a new stake in Six Flags Entertainment in the 2nd quarter valued at about $35,000. Sterling Capital Management LLC increased its position in Six Flags Entertainment by 846.3% in the 3rd quarter. Sterling Capital Management LLC now owns 3,227 shares of the company’s stock valued at $35,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Six Flags Entertainment by 36.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company’s stock valued at $36,000 after acquiring an additional 539 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FUN. Guggenheim cut their price objective on Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Stifel Nicolaus set a $15.00 target price on shares of Six Flags Entertainment in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Six Flags Entertainment from $22.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. UBS Group cut their price target on shares of Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating for the company in a report on Friday, October 16th. Finally, Wall Street Zen lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.85.

Six Flags Entertainment News Roundup

Here are the key news stories impacting Six Flags Entertainment this week:

• Neutral Sentiment: JPMorgan lowered its price target to $12 from $22 and kept a neutral rating. The revised target is about 11% above the quoted share price, but the steep reduction signals a weaker outlook. JPMorgan analyst rating
• Negative Sentiment: Citigroup cut its target to $10 from $13 while retaining a neutral rating; that target is below the quoted share price, suggesting limited upside in its view. Citigroup analyst rating
• Negative Sentiment: A securities law firm announced an investigation into potential securities fraud following reports of safety issues and a sharp stock decline. The investigation is an allegation, not a finding, but adds legal and reputational uncertainty. Investigation announcement
• Negative Sentiment: CEO John Reilly said Six Flags has more debt than desired and plans to sell additional parks to reduce its approximately $5 billion debt burden. Asset sales could help strengthen the balance sheet, but the debt level and potential loss of park assets concern investors. Report on debt and park sales
• Negative Sentiment: Barclays also reportedly lowered its price target, adding to the recent analyst caution. Barclays target cut
• Negative Sentiment: News that the company will close a long-running theme park may weigh on sentiment, although the report provided no financial details on the closure’s impact. Theme park closure report

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.