Six Flags Entertainment (NYSE:FUN) Shares Up 5.5% Following Insider Buying Activity

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price traded up 5.5% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $21.20 and last traded at $21.18. 776,177 shares changed hands during trading, a decline of 63% from the average session volume of 2,118,952 shares. The stock had previously closed at $20.08.

Specifically, Director Marilyn G. Spiegel bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $19.12 per share, for a total transaction of $47,800.00. Following the transaction, the director directly owned 12,661 shares of the company’s stock, valued at $242,078.32. This represents a 24.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard M. Haddrill purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $19.08 per share, for a total transaction of $190,800.00. Following the purchase, the insider owned 230,117 shares in the company, valued at $4,390,632.36. This represents a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

Several research analysts have issued reports on FUN shares. Mizuho increased their price objective on Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. raised shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 target price on the stock in a report on Friday, May 8th. Oppenheimer dropped their target price on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley set a $18.00 price target on shares of Six Flags Entertainment in a report on Friday, February 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.85.

Six Flags Entertainment Price Performance

The stock has a fifty day moving average of $18.15 and a 200-day moving average of $17.12. The firm has a market capitalization of $2.13 billion, a P/E ratio of -1.28 and a beta of 0.35. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, beating 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 firm had revenue of $225.63 million during the quarter, compared to analysts’ expectations of $207.49 million. Equities analysts predict that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of FUN. Nisa Investment Advisors LLC raised its position in Six Flags Entertainment by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,527 shares of the company’s stock worth $103,000 after purchasing an additional 442 shares during the last quarter. Public Employees Retirement System of Ohio boosted 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 buying an additional 539 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Six Flags Entertainment by 1.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 56,470 shares of the company’s stock valued at $1,282,000 after buying an additional 545 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of 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 buying an additional 586 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Six Flags Entertainment by 2.2% during the third quarter. Arizona State Retirement System now owns 28,421 shares of the company’s stock worth $646,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

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.