Six Flags Entertainment Co. (NYSE:SIX – Get Rating) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 4,370,000 shares, a decrease of 18.2% from the May 31st total of 5,340,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is presently 1.9 days. Approximately 5.2% of the shares of the company are short sold.
Shares of Six Flags Entertainment stock traded down $0.30 during trading on Tuesday, hitting $22.74. 16,800 shares of the company’s stock were exchanged, compared to its average volume of 2,869,283. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 12.59 and a beta of 2.27. The business has a 50-day simple moving average of $28.79 and a 200-day simple moving average of $37.30. Six Flags Entertainment has a 52-week low of $19.91 and a 52-week high of $47.24.
Six Flags Entertainment (NYSE:SIX – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.31. Six Flags Entertainment had a negative return on equity of 15.34% and a net margin of 10.31%. The business had revenue of $138.10 million during the quarter, compared to analysts’ expectations of $122.26 million. During the same period in the previous year, the business earned ($1.12) earnings per share. The business’s revenue was up 68.4% compared to the same quarter last year. Sell-side analysts forecast that Six Flags Entertainment will post 2.48 EPS for the current year.
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In other Six Flags Entertainment news, CFO Gary Mick acquired 1,325 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $23.82 per share, with a total value of $31,561.50. Following the completion of the acquisition, the chief financial officer now owns 30,000 shares of the company’s stock, valued at $714,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arik W. Ruchim bought 205,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average price of $29.31 per share, with a total value of $6,008,550.00. Following the completion of the transaction, the director now directly owns 9,130,000 shares of the company’s stock, valued at approximately $267,600,300. The disclosure for this purchase can be found here. Insiders have bought a total of 553,325 shares of company stock worth $16,049,162 in the last ninety days. Insiders own 0.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Highland Capital Management LLC increased its stake in Six Flags Entertainment by 0.7% during the first quarter. Highland Capital Management LLC now owns 41,372 shares of the company’s stock worth $1,800,000 after acquiring an additional 273 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Six Flags Entertainment by 1.6% in the fourth quarter. State of Michigan Retirement System now owns 19,629 shares of the company’s stock valued at $836,000 after buying an additional 300 shares in the last quarter. Twin Lakes Capital Management LLC raised its holdings in shares of Six Flags Entertainment by 0.3% in the 1st quarter. Twin Lakes Capital Management LLC now owns 100,098 shares of the company’s stock valued at $4,354,000 after buying an additional 337 shares during the period. Louisiana State Employees Retirement System lifted its stake in Six Flags Entertainment by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $868,000 after acquiring an additional 400 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Six Flags Entertainment by 0.4% during the 1st quarter. New York State Common Retirement Fund now owns 103,878 shares of the company’s stock valued at $4,519,000 after acquiring an additional 406 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.
A number of research analysts recently issued reports on SIX shares. Citigroup reduced their price target on Six Flags Entertainment from $51.00 to $41.00 in a report on Friday, May 13th. B. Riley cut Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $24.00 in a research note on Tuesday, June 21st. Stifel Nicolaus decreased their price objective on shares of Six Flags Entertainment from $52.00 to $35.00 and set a “buy” rating for the company in a report on Friday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Six Flags Entertainment from $57.00 to $56.00 in a report on Friday, May 13th. Finally, Truist Financial cut their price objective on Six Flags Entertainment from $46.00 to $32.00 in a report on Friday, May 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.30.
About Six Flags Entertainment (Get Rating)
Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.
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