Six Flags Entertainment Co. (NYSE:SIX – Get Rating) has earned an average recommendation of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.56.
Several research firms recently commented on SIX. Truist Financial lowered their target price on Six Flags Entertainment from $32.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, August 12th. Rosenblatt Securities lowered their target price on Six Flags Entertainment from $56.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. KeyCorp cut Six Flags Entertainment from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 12th. Oppenheimer lowered their price target on Six Flags Entertainment from $54.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Finally, Stifel Nicolaus lowered their price target on Six Flags Entertainment from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 12th.
Six Flags Entertainment Stock Down 7.5 %
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Shares of NYSE SIX opened at $24.06 on Friday. Six Flags Entertainment has a fifty-two week low of $19.80 and a fifty-two week high of $47.24. The business has a 50 day moving average price of $23.05 and a two-hundred day moving average price of $32.24. The firm has a market cap of $2.00 billion, a PE ratio of 15.52 and a beta of 2.20.
Six Flags Entertainment (NYSE:SIX – Get Rating) last released its earnings results on Thursday, August 11th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.48). Six Flags Entertainment had a negative return on equity of 14.53% and a net margin of 8.83%. The firm had revenue of $435.40 million for the quarter, compared to the consensus estimate of $518.50 million. During the same period in the prior year, the business earned $0.81 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that Six Flags Entertainment will post 1.94 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Arik W. Ruchim purchased 50,000 shares of Six Flags Entertainment stock in a transaction on Tuesday, May 31st. The stock was bought at an average price of $29.34 per share, with a total value of $1,467,000.00. Following the completion of the transaction, the director now directly owns 9,475,000 shares of the company’s stock, valued at $277,996,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Six Flags Entertainment news, Director Arik W. Ruchim acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were acquired at an average cost of $29.34 per share, for a total transaction of $1,467,000.00. Following the completion of the purchase, the director now owns 9,475,000 shares of the company’s stock, valued at approximately $277,996,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Rehan Jaffer acquired 275,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was acquired at an average price of $23.28 per share, for a total transaction of $6,402,000.00. Following the completion of the purchase, the insider now directly owns 9,750,000 shares of the company’s stock, valued at approximately $226,980,000. The disclosure for this purchase can be found here. Insiders purchased 1,078,325 shares of company stock valued at $25,669,412 over the last quarter. Insiders own 0.41% of the company’s stock.
Hedge Funds Weigh In On Six Flags Entertainment
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Global Investments acquired a new stake in Six Flags Entertainment during the second quarter valued at approximately $577,000. ExodusPoint Capital Management LP boosted its holdings 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 purchasing an additional 120,677 shares in the last quarter. Nomura Holdings Inc. boosted its holdings 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 purchasing an additional 44,996 shares in the last quarter. Captrust Financial Advisors boosted its holdings 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 purchasing an additional 428 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its holdings in Six Flags Entertainment by 957.4% during the second quarter. Waratah Capital Advisors Ltd. now owns 1,214,132 shares of the company’s stock valued at $26,317,000 after purchasing an additional 1,099,305 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors.
About Six Flags Entertainment
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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Source: marketbeat.com
