Six Flags Entertainment (NYSE:FUN) Sets New 1-Year Low on Analyst Downgrade

Shares of Six Flags Entertainment Corporation (NYSE:FUN) hit a new 52-week low during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $15.00 to $6.00. The Goldman Sachs Group currently has a neutral rating on the stock. Six Flags Entertainment traded as low as $6.60 and last traded at $7.1750, with a volume of 165,562 shares trading hands. The stock had previously closed at $6.77.

FUN has been the topic of a number of other research reports. Guggenheim decreased their target price on shares of Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. UBS Group dropped their price target on shares of Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Wall Street Zen cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Stifel Nicolaus set a $23.00 price objective on shares of Six Flags Entertainment in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.92.

Insider Transactions at Six Flags Entertainment

In other news, CEO John Reilly bought 15,713 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the transaction, the chief executive officer owned 297,736 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Six Flags Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Six Flags Entertainment during the 2nd quarter worth approximately $339,057,000. Kanen Wealth Management LLC acquired a new stake in Six Flags Entertainment during the 1st quarter worth approximately $15,063,000. Bank of New York Mellon Corp purchased a new position in Six Flags Entertainment in the 2nd quarter valued at approximately $11,975,000. Jupiter Topco LLC purchased a new position in Six Flags Entertainment in the 2nd quarter valued at approximately $10,348,000. Finally, Bank of America Corp DE acquired a new position in shares of Six Flags Entertainment in the second quarter worth $9,066,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Trading Up 6.6%

The company’s 50 day simple moving average is $12.71 and its 200 day simple moving average is $17.28. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. The firm has a market cap of $738.24 million, a price-to-earnings ratio of -0.41 and a beta of 0.45.

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

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.