Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from Citizens Jmp

Six Flags Entertainment (NYSE:FUN) had its target price decreased by Citizens Jmp from $24.00 to $14.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 95.42% from the company’s current price.

Several other research firms also recently commented on FUN. Stifel Nicolaus set a $23.00 price target on shares of Six Flags Entertainment in a research report on Friday, August 7th. Oppenheimer lowered their price objective on shares of Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Barclays lowered their price objective on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Mizuho set a $5.00 price objective on shares of Six Flags Entertainment in a research note on Wednesday. Finally, Wall Street Zen cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.62.

Six Flags Entertainment Stock Performance

NYSE FUN traded up $0.09 on Thursday, reaching $7.16. The stock had a trading volume of 1,449,121 shares, compared to its average volume of 2,458,633. The stock has a market cap of $732.99 million, a P/E ratio of -0.41 and a beta of 0.45. Six Flags Entertainment has a 12-month low of $6.90 and a 12-month high of $27.37. The business’s 50-day moving average price is $13.09 and its 200 day moving average price is $17.42. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42.

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

Insider Buying and Selling at Six Flags Entertainment

In related news, CEO John Reilly bought 15,713 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $15.80 per share, with a total value of $248,265.40. Following the completion of the acquisition, the chief executive officer owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Several large investors have recently modified their holdings of the stock. Man Group plc purchased a new stake in Six Flags Entertainment in the 2nd quarter valued at approximately $7,134,000. Legal & General Group Plc acquired a new position in Six Flags Entertainment during the 2nd quarter worth approximately $4,808,000. Lee Danner & Bass Inc. purchased a new position in shares of Six Flags Entertainment during the 1st quarter worth approximately $2,089,000. Bank of America Corp DE purchased a new position in shares of Six Flags Entertainment during the 2nd quarter worth approximately $9,066,000. Finally, BlackRock Inc. purchased a new position in shares of Six Flags Entertainment during the 2nd quarter worth approximately $339,057,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

About Six Flags Entertainment

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.