Six Flags Entertainment (NYSE:FUN) Shares Gap Down – Time to Sell?

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $20.99, but opened at $20.24. Six Flags Entertainment shares last traded at $19.99, with a volume of 172,333 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on FUN. Citizens Jmp started coverage on shares of Six Flags Entertainment in a research report on Monday, June 29th. They set a “market outperform” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. raised shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Friday, May 8th. UBS Group increased their price target on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group raised their price target on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.43.

Six Flags Entertainment Price Performance

The stock has a market capitalization of $2.01 billion, a P/E ratio of -1.20 and a beta of 0.38. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. The company has a fifty day simple moving average of $21.05 and a two-hundred day simple moving average of $18.35.

Six Flags Entertainment (NYSE:FUN) last issued its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.71) by $0.06. The company had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. Sell-side analysts expect that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Rehan Jaffer acquired 125,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the purchase, the director directly owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard M. Haddrill acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $19.08 per share, with a total value of $190,800.00. Following the acquisition, the insider directly owned 230,117 shares of the company’s stock, valued at $4,390,632.36. The trade was a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 265,000 shares of company stock worth $6,173,850. Insiders own 2.10% of the company’s stock.

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG increased its stake in Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock valued at $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. JANA Partners Management LP acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $92,015,000. Invenomic Capital Management LP bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at $23,499,000. Interval Partners LP increased its position in shares of Six Flags Entertainment by 76.0% in the 3rd quarter. Interval Partners LP now owns 388,188 shares of the company’s stock valued at $8,820,000 after buying an additional 167,643 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Six Flags Entertainment by 106.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company’s stock worth $1,968,000 after buying an additional 66,263 shares during the period. 64.65% of the stock is owned by institutional investors.

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.