Hsbc Holdings PLC Buys New Stake in Six Flags Entertainment Corporation $FUN

Hsbc Holdings PLC purchased a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 59,828 shares of the company’s stock, valued at approximately $894,000. Hsbc Holdings PLC owned 0.06% of Six Flags Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG grew its stake in Six Flags Entertainment by 533.4% in the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock valued at $80,991,000 after acquiring an additional 4,446,104 shares during the period. Rush Island Management LP acquired a new position in Six Flags Entertainment during the second quarter worth $115,454,000. Morgan Stanley raised its position in Six Flags Entertainment by 62.1% during the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after acquiring an additional 3,629,445 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Six Flags Entertainment during the fourth quarter valued at $36,661,000. Finally, Barclays PLC lifted its holdings in Six Flags Entertainment by 203.5% during the fourth quarter. Barclays PLC now owns 836,037 shares of the company’s stock valued at $12,825,000 after purchasing an additional 1,643,885 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Price Performance

NYSE:FUN opened at $18.74 on Wednesday. Six Flags Entertainment Corporation has a 52 week low of $12.51 and a 52 week high of $33.50. The stock’s fifty day moving average is $21.14 and its two-hundred day moving average is $18.58. The company has a market capitalization of $1.92 billion, a P/E ratio of -1.15 and a beta of 0.38. 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 announced 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 company had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. Equities analysts expect that Six Flags Entertainment Corporation will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

FUN has been the topic of several research analyst reports. Truist Financial lifted their price objective on Six Flags Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Weiss Ratings cut Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Guggenheim decreased their target price on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. UBS Group lifted their price target on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. upgraded Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price target for the company in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.07.

Insider Activity

In related news, insider Richard M. Haddrill purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $19.08 per share, for a total transaction of $190,800.00. Following the purchase, the insider directly owned 230,117 shares of the company’s stock, valued at $4,390,632.36. The trade was a 4.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rehan Jaffer bought 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were purchased at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This represents a 2.62% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 265,000 shares of company stock worth $6,173,850. 2.10% of the stock is currently owned by corporate insiders.

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.