Kanen Wealth Management LLC Takes $15.06 Million Position in Six Flags Entertainment Corporation $FUN

Kanen Wealth Management LLC bought a new position in Six Flags Entertainment Corporation (NYSE:FUN) during the 1st quarter, Holdings Channel.com reports. The firm bought 848,643 shares of the company’s stock, valued at approximately $15,063,000. Six Flags Entertainment accounts for about 5.4% of Kanen Wealth Management LLC’s portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after buying an additional 4,446,104 shares during the period. Rush Island Management LP purchased a new stake in Six Flags Entertainment during the 2nd quarter valued at $115,454,000. Morgan Stanley grew its holdings in Six Flags Entertainment by 62.1% in the 4th 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Six Flags Entertainment in the 4th quarter worth $36,661,000. Finally, Barclays PLC increased its position in shares of Six Flags Entertainment by 203.5% in the fourth quarter. Barclays PLC now owns 836,037 shares of the company’s stock valued at $12,825,000 after acquiring an additional 1,643,885 shares during the period. Institutional investors own 64.65% of the company’s stock.

Insider Transactions at Six Flags Entertainment

In other Six Flags Entertainment news, Director Marilyn G. Spiegel purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the purchase, the director directly owned 15,161 shares in the company, valued at $289,575.10. The trade was a 19.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rehan Jaffer purchased 125,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the transaction, the director owned 4,900,000 shares in the company, valued at $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 265,000 shares of company stock valued at $6,173,850. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FUN shares. Guggenheim dropped their target price on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a report on Friday. Zacks Research downgraded Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Citizens Jmp assumed coverage on Six Flags Entertainment in a research report on Monday, June 29th. They set a “market outperform” rating and a $29.00 price target for the company. Citigroup dropped their price objective on Six Flags Entertainment from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Finally, Barclays boosted 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. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Six Flags Entertainment Price Performance

FUN stock opened at $18.64 on Wednesday. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $31.51. The company has a market cap of $1.90 billion, a P/E ratio of -1.14 and a beta of 0.38. The firm has a 50-day moving average of $20.65 and a 200 day moving average of $18.78. The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62.

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 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 analysts’ expectations of $207.49 million. On average, sell-side analysts forecast that Six Flags Entertainment Corporation will post -0.28 EPS for the current year.

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.