Six Flags Entertainment (NYSE:FUN) Reaches New 12-Month Low – What’s Next?

Six Flags Entertainment Corporation (NYSE:FUN)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.26 and last traded at $21.80, with a volume of 160115 shares. The stock had previously closed at $21.40.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FUN. Wall Street Zen downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Oppenheimer lowered their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. UBS Group lowered their price objective on shares of Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Truist Financial downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Six Flags Entertainment has an average rating of “Moderate Buy” and an average price target of $36.36.

Six Flags Entertainment Trading Up 4.0%

The company’s fifty day moving average price is $26.20 and its two-hundred day moving average price is $31.10. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The firm has a market cap of $2.25 billion, a P/E ratio of -4.59 and a beta of 0.72.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.53). The company had revenue of $930.39 million for the quarter, compared to analyst estimates of $999.82 million. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The company’s revenue for the quarter was up 62.8% on a year-over-year basis. As a group, sell-side analysts predict that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

A number of hedge funds have recently modified their holdings of FUN. Rush Island Management LP bought a new position in shares of Six Flags Entertainment in the second quarter valued at $115,454,000. Darlington Partners Capital Management LP grew its position in Six Flags Entertainment by 20.2% in the second 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 last quarter. Dendur Capital LP increased its stake in shares of Six Flags Entertainment by 41.1% in the second quarter. Dendur Capital LP now owns 4,433,500 shares of the company’s stock valued at $134,911,000 after buying an additional 1,292,500 shares during the period. Long Pond Capital LP boosted its holdings in Six Flags Entertainment by 55.2% in the second quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after acquiring an additional 1,172,101 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Six Flags Entertainment in the second quarter valued at approximately $18,288,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Six Flags Entertainment Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.