Six Flags Entertainment (NYSE:FUN) Stock Price Target Cut by Citigroup

Six Flags Entertainment (NYSE:FUN) had its target price cut by Citigroup from $17.00 to $13.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 14.18% from the stock’s previous close.

Several other equities research analysts also recently issued reports on FUN. Mizuho set a $10.00 price objective on shares of Six Flags Entertainment and gave the stock an “underperform” rating in a research note on Friday, August 7th. Northcoast Research started coverage on Six Flags Entertainment in a report on Wednesday, July 8th. They issued a “neutral” rating for the company. Stifel Nicolaus set a $23.00 price objective on Six Flags Entertainment in a research report on Friday, August 7th. Citizens Jmp reduced their price objective on Six Flags Entertainment from $29.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th. Finally, Barclays decreased their target price on Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.54.

Six Flags Entertainment Trading Down 2.1%

FUN stock traded down $0.24 during trading on Thursday, reaching $11.39. 3,662,622 shares of the stock traded hands, compared to its average volume of 2,222,388. The business’s 50 day moving average price is $14.62 and its 200-day moving average price is $17.97. The firm has a market capitalization of $1.17 billion, a PE ratio of -0.66 and a beta of 0.45. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. Six Flags Entertainment has a 52-week low of $10.45 and a 52-week high of $27.37.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.15). The firm had revenue of $864.92 million during the quarter, compared to analyst estimates of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that Six Flags Entertainment will post -0.91 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Reilly acquired 15,713 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $15.80 per share, with a total value of $248,265.40. Following the transaction, the chief executive officer directly owned 297,736 shares in the company, valued at approximately $4,704,228.80. This represents a 5.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Man Group plc bought a new position in Six Flags Entertainment during the 2nd quarter valued at $7,134,000. Legal & General Group Plc bought a new stake in shares of Six Flags Entertainment in the 2nd quarter worth about $4,808,000. Lee Danner & Bass Inc. acquired a new stake in shares of Six Flags Entertainment in the 1st quarter valued at about $2,089,000. Bank of New York Mellon Corp bought a new position in shares of Six Flags Entertainment during the second quarter worth about $11,975,000. Finally, BlackRock Inc. bought a new position in shares of Six Flags Entertainment during the second quarter worth about $339,057,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation operates amusement parks, water parks and resort properties across the United States, Canada and Mexico. Its portfolio offers roller coasters, family rides, water attractions, live entertainment, themed events, dining, retail and other guest experiences.

The company was formed through the 2024 merger of Six Flags Entertainment Corporation and Cedar Fair, L.P., combining the Six Flags and Cedar Fair park portfolios. Its properties include Six Flags-branded parks as well as parks operating under established regional brands such as Cedar Point, Kings Island, Knott’s Berry Farm and Canada’s Wonderland.

Six Flags serves vacationers, families and regional visitors through admission tickets, season passes, memberships, food and merchandise sales, and accommodations at select destinations.