JANA Partners Management LP Invests $92.02 Million in Six Flags Entertainment Corporation $FUN

JANA Partners Management LP bought a new position in Six Flags Entertainment Corporation (NYSE:FUN) during the 3rd quarter, HoldingsChannel reports. The fund bought 4,049,940 shares of the company’s stock, valued at approximately $92,015,000. Six Flags Entertainment makes up 4.5% of JANA Partners Management LP’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FUN. Envestnet Asset Management Inc. boosted its position in Six Flags Entertainment by 56.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 61,081 shares of the company’s stock valued at $1,859,000 after buying an additional 22,054 shares during the period. Allworth Financial LP raised its stake in shares of Six Flags Entertainment by 1,179.0% during the second quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after acquiring an additional 1,403 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Six Flags Entertainment by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,208,815 shares of the company’s stock worth $67,222,000 after purchasing an additional 52,337 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Six Flags Entertainment by 10.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 21,953 shares of the company’s stock worth $668,000 after purchasing an additional 2,139 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Six Flags Entertainment by 8.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,139 shares of the company’s stock worth $735,000 after purchasing an additional 1,821 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FUN shares. Truist Financial set a $23.00 price target on Six Flags Entertainment and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays reiterated an “overweight” rating and issued a $22.00 price objective on shares of Six Flags Entertainment in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Six Flags Entertainment in a report on Thursday, January 22nd. Guggenheim dropped their price target on Six Flags Entertainment from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Finally, Citigroup cut shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $20.00 in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.62.

Six Flags Entertainment Trading Up 2.7%

FUN opened at $16.00 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 9.40. Six Flags Entertainment Corporation has a 52 week low of $12.51 and a 52 week high of $39.21. The stock has a market cap of $1.62 billion, a PE ratio of -1.01 and a beta of 0.36. The business has a 50 day moving average of $16.82 and a 200-day moving average of $18.37.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.60). The firm had revenue of $650.09 million during the quarter, compared to analysts’ expectations of $602.68 million. Six Flags Entertainment had a positive return on equity of 3.77% and a negative net margin of 51.58%.The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

Six Flags Entertainment Company Profile

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.