Six Flags Entertainment (NYSE:FUN) Shares Gap Down – What’s Next?

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $20.99, but opened at $20.24. Six Flags Entertainment shares last traded at $19.99, with a volume of 172,333 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Guggenheim dropped their target price on shares of Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 13th. The Goldman Sachs Group raised their price objective on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Oppenheimer lowered their target price on Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Barclays lifted their price target on Six Flags Entertainment from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.43.

Six Flags Entertainment Stock Performance

The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -1.20 and a beta of 0.38. The stock’s 50 day moving average price is $21.05 and its 200 day moving average price is $18.35. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.71) by $0.06. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%.The business had revenue of $225.63 million for the quarter, compared to the consensus estimate of $207.49 million. Analysts expect that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current year.

Insider Transactions at Six Flags Entertainment

In related news, Director Rehan Jaffer acquired 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares in the company, valued at $114,709,000. This represents a 2.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marilyn G. Spiegel bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director directly owned 15,161 shares of the company’s stock, valued at $289,575.10. This represents a 19.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 265,000 shares of company stock worth $6,173,850 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake 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 purchasing an additional 539 shares during the last quarter. Russell Investments Group Ltd. increased its position in Six Flags Entertainment by 26.1% during the second quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock worth $86,000 after buying an additional 586 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Six Flags Entertainment by 259.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 722 shares during the period. CIBC Private Wealth Group LLC raised its stake in Six Flags Entertainment by 26.3% in the third quarter. CIBC Private Wealth Group LLC now owns 3,588 shares of the company’s stock valued at $82,000 after buying an additional 748 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Six Flags Entertainment by 10.6% in the second quarter. Corient Private Wealth LLC now owns 9,290 shares of the company’s stock valued at $283,000 after buying an additional 888 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

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.