Shares of Six Flags Entertainment Co. (NYSE:SIX – Get Rating) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.10.
A number of equities analysts recently issued reports on the stock. Rosenblatt Securities decreased their target price on shares of Six Flags Entertainment from $56.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Truist Financial reduced their price objective on shares of Six Flags Entertainment from $32.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, August 12th. Stifel Nicolaus reduced their price objective on shares of Six Flags Entertainment from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 12th. KeyCorp lowered shares of Six Flags Entertainment from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 12th. Finally, Credit Suisse Group reduced their price objective on shares of Six Flags Entertainment from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st.
Six Flags Entertainment Stock Down 8.6 %
Shares of SIX opened at $20.91 on Thursday. The firm has a 50-day moving average price of $23.23 and a 200 day moving average price of $29.63. The firm has a market capitalization of $1.74 billion, a PE ratio of 13.49 and a beta of 2.17. Six Flags Entertainment has a 52-week low of $19.80 and a 52-week high of $47.24.
Six Flags Entertainment (NYSE:SIX – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.48). The company had revenue of $435.40 million during the quarter, compared to the consensus estimate of $518.50 million. Six Flags Entertainment had a net margin of 8.83% and a negative return on equity of 14.53%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities analysts expect that Six Flags Entertainment will post 1.92 EPS for the current year.
Insider Buying and Selling at Six Flags Entertainment
In other news, major shareholder Rehan Jaffer acquired 275,000 shares of Six Flags Entertainment stock in a transaction on Friday, August 12th. The stock was bought at an average cost of $23.28 per share, with a total value of $6,402,000.00. Following the completion of the purchase, the insider now owns 9,750,000 shares of the company’s stock, valued at $226,980,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Arik W. Ruchim purchased 50,000 shares of Six Flags Entertainment stock in a transaction dated Monday, September 12th. The stock was acquired at an average cost of $23.89 per share, with a total value of $1,194,500.00. Following the completion of the transaction, the director now directly owns 10,550,000 shares of the company’s stock, valued at $252,039,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rehan Jaffer purchased 275,000 shares of Six Flags Entertainment stock in a transaction dated Friday, August 12th. The stock was bought at an average cost of $23.28 per share, with a total value of $6,402,000.00. Following the completion of the transaction, the insider now directly owns 9,750,000 shares of the company’s stock, valued at $226,980,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,229,175 shares of company stock valued at $28,809,899. 0.41% of the stock is currently owned by corporate insiders.
Institutional Trading of Six Flags Entertainment
A number of hedge funds have recently made changes to their positions in SIX. Verition Fund Management LLC raised its position in Six Flags Entertainment by 248.9% during the second quarter. Verition Fund Management LLC now owns 80,014 shares of the company’s stock valued at $1,736,000 after acquiring an additional 57,078 shares in the last quarter. Summit Global Investments bought a new position in Six Flags Entertainment during the second quarter valued at approximately $577,000. ExodusPoint Capital Management LP raised its position in Six Flags Entertainment by 1,305.5% during the second quarter. ExodusPoint Capital Management LP now owns 129,921 shares of the company’s stock valued at $2,819,000 after acquiring an additional 120,677 shares in the last quarter. Nomura Holdings Inc. raised its position in Six Flags Entertainment by 689.4% during the second quarter. Nomura Holdings Inc. now owns 51,523 shares of the company’s stock valued at $1,187,000 after acquiring an additional 44,996 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Six Flags Entertainment by 34.0% during the second quarter. Captrust Financial Advisors now owns 1,685 shares of the company’s stock valued at $37,000 after acquiring an additional 428 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.
Six Flags Entertainment Company Profile
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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