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

Six Flags Entertainment Corporation (NYSE:FUN)’s share price shot up 5.5% during trading on Friday following insider buying activity. The stock traded as high as $21.20 and last traded at $21.18. 776,177 shares traded 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 acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $19.12 per share, with a total value of $47,800.00. Following the acquisition, the director owned 12,661 shares in the company, valued at approximately $242,078.32. This represents a 24.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard M. Haddrill bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $19.08 per share, for a total transaction of $190,800.00. Following the completion of the purchase, the insider directly owned 230,117 shares in the company, valued at $4,390,632.36. The trade was a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FUN shares. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price target for the company in a report on Friday, May 8th. Guggenheim cut their price objective on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Barclays increased their target price 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. Mizuho raised their target price on Six Flags Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Weiss Ratings raised Six Flags Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.85.

Six Flags Entertainment Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13. The stock’s 50-day moving average price is $18.15 and its 200 day moving average price is $17.12. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -1.28 and a beta of 0.35.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, topping 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. Equities research analysts predict that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Six Flags Entertainment by 533.4% during the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after acquiring an additional 4,446,104 shares during the period. JANA Partners Management LP acquired a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at about $92,015,000. Quantbot Technologies LP increased its stake in Six Flags Entertainment by 190.5% in the third quarter. Quantbot Technologies LP now owns 230,120 shares of the company’s stock valued at $5,228,000 after acquiring an additional 150,913 shares during the period. Channing Capital Management LLC increased its stake in Six Flags Entertainment by 75.2% in the third quarter. Channing Capital Management LLC now owns 374,874 shares of the company’s stock valued at $8,517,000 after acquiring an additional 160,931 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in Six Flags Entertainment in the third quarter worth about $23,499,000. 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.