Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from Citigroup

Six Flags Entertainment (NYSE:FUN) had its price target decreased by Citigroup from $17.00 to $13.00 in a research report released on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

FUN has been the subject of a number of other research reports. Stifel Nicolaus set a $23.00 price objective on shares of Six Flags Entertainment in a report on Friday, August 7th. Mizuho set a $10.00 target price on shares of Six Flags Entertainment and gave the stock an “underperform” rating in a report on Friday, August 7th. Guggenheim decreased their price target on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Northcoast Research started coverage on shares of Six Flags Entertainment in a research note on Wednesday, July 8th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.54.

Six Flags Entertainment Price Performance

Shares of FUN opened at $11.37 on Thursday. Six Flags Entertainment has a 12-month low of $10.45 and a 12-month high of $27.37. The business has a 50-day simple moving average of $14.38 and a two-hundred day simple moving average of $17.89. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The stock has a market cap of $1.16 billion, a PE ratio of -0.66 and a beta of 0.45.

Six Flags Entertainment (NYSE:FUN) last posted its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.15). The firm had revenue of $864.92 million during the quarter, compared to the consensus estimate of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. Six Flags Entertainment’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. Analysts anticipate that Six Flags Entertainment will post -0.91 earnings per share for the current fiscal year.

Insider Activity at Six Flags Entertainment

In related news, CEO John Reilly acquired 15,713 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Man Group plc bought a new position in shares of Six Flags Entertainment in the 2nd quarter worth about $7,134,000. Legal & General Group Plc acquired a new position in shares of Six Flags Entertainment in the 2nd quarter valued at about $4,808,000. Lee Danner & Bass Inc. bought a new stake in shares of Six Flags Entertainment during the 1st quarter valued at about $2,089,000. Bank of New York Mellon Corp bought a new stake in shares of Six Flags Entertainment during the 2nd quarter valued at about $11,975,000. Finally, BlackRock Inc. acquired a new stake in Six Flags Entertainment during the second quarter worth approximately $339,057,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation operates amusement parks, water parks and resort properties across the United States, Canada and Mexico. Its portfolio offers roller coasters, family rides, water attractions, live entertainment, themed events, dining, retail and other guest experiences.

The company was formed through the 2024 merger of Six Flags Entertainment Corporation and Cedar Fair, L.P., combining the Six Flags and Cedar Fair park portfolios. Its properties include Six Flags-branded parks as well as parks operating under established regional brands such as Cedar Point, Kings Island, Knott’s Berry Farm and Canada’s Wonderland.

Six Flags serves vacationers, families and regional visitors through admission tickets, season passes, memberships, food and merchandise sales, and accommodations at select destinations.