Stifel Nicolaus raised their price target for Six Flags Entertainment Co. (NYSE: SIX) from $28.00 to $30.00 on Monday. Before settling at its current price of $19.23, the price of a share of the company’s stock hit a high of $19.39. The total number of shares that changed hands during lunchtime was 13,547, 99% lower than the daily volume of 2,496,364 shares that are typically traded. When the market closed, the share price had been $18.53 per share.
There have been several other research firms that have recently provided commentary on SIX. Oppenheimer rated the stock as “outperform” in a research note published on Monday, August 8, and reduced their price objective for Six Flags Entertainment from $54.00 to $33.00 in a research note published on Monday, August 8. The note was published in conjunction with the company’s quarterly earnings report. The remark was made about the anticipated performance of the company. In a research note published on Friday, August 12, Truist Financial lowered its “hold” rating and its price objective for Six Flags Entertainment. The note was about the company’s stock. The adjustment reduced the target price from $32.00 to $20.00. Six Flags Entertainment will now have a price target of $38.00 rather than $56.00, as was disclosed by Deutsche Bank Aktiengesellschaft in a research report that was made public on Friday, August 12, 2018. In a research report released on Tuesday, June 21, B. Riley lowered their price target on Six Flags Entertainment from $55.00 to $24.00 and downgraded the company from a “buy” rating to a “neutral” rating. Both of these moves were made about the company’s stock. And finally, in a research note published on September 1, Credit Suisse Group reported that its “outperform” rating on Six Flags Entertainment had been lowered to $40.00 and that the company’s price objective had been reduced from $44.00. Seven equity research analysts have rated the company as a buy, while five analysts have rated the company as a hold. In addition, seven analysts have recommended buying the company’s stock. According to Bloomberg, the price target for the stock is set at $32.09, and the stock is currently rated as having a consensus of “Moderate Buy.”
In related news about this topic, Chief Financial Officer Gary Mick purchased 4,175 company stock on September 13, the day after the market opened. The average price paid for a share was $22.85, which resulted in the total amount spent on the shares being $95,398.75. After the completion of the transaction, the chief financial officer will now directly own 34,175 shares of the company. These shares have a value of approximately $780,898.75 each. Simply clicking on this link will take you to a document submitted to the SEC and provide you with additional details regarding the transaction. In other news about this topic, Chief Financial Officer Gary Mick purchased 4,175 company stock on Tuesday, September 13. The average price paid for a share was $22.85, which resulted in the total amount spent on the shares being $95,398.75. The completion of the acquisition has resulted in the chief financial officer gaining ownership of 34,175 business shares, which have a value of $780,898. 75). If you follow this link, you will be brought to the SEC filing in which the acquisition was discussed, so make sure you do so. Arik W. Ruchim, both director and shareholder, purchased 50,000 shares of the company’s stock on Monday, September 12, 2018. The number of shares was acquired for a total cost of $1,194,500.00, which is $23.89 on average for each share. The completion of the acquisition resulted in the director gaining ownership of 10,550,000 shares of the company’s stock. Based on the current market price, these shares are approximately $252,039,500. You should look at this location if you are looking for the disclosure that pertains to this transaction. Insiders of the company have purchased a total of 1,229,175 shares over the past three months, which has led to an increase in the stock’s value of $28,809,899. Company insiders hold the total number of shares in the company at a rate of 0.41%.
Recent events have resulted in institutional investors adjusting the percentages of ownership they formerly held in the company. In the second quarter, Verition Fund Management LLC made a 249.1% increase in the amount of Six Flags Entertainment stock that it owned, bringing its total percentage of ownership to a total of Verition Fund Management LLC has increased the total value of its holdings to $1,736,000 by purchasing an additional 57,078 shares of the company’s stock since the beginning of this quarter. This brings the total number of shares it currently possesses to 121,078. During the year’s second quarter, Summit Global Investments initiated a brand-new position in Six Flags Entertainment with a value of 577 thousand dollars. In addition, ExodusPoint Capital Management LP boosted its stock holdings by 1,305.5% during the year’s second quarter by increasing the number of shares of Six Flags Entertainment that it owned. ExodusPoint Capital Management LP now directly owns 129,921 shares of the company’s stock, with a market value of $2,819,000. This comes from the acquisition of 120,677 shares in the most recent quarter. Nomura Holdings Inc. increased the proportion of Six Flags Entertainment stock that is owned by 689.4% over the year’s second quarter. Nomura Holdings Inc. now has 51,523 shares after purchasing an additional 44,996 in the most recent quarter. The value of Nomura Holdings Inc.’s investment in the company is $1,187,000. Finally, but not least, Captrust Financial Advisors increased its ownership of Six Flags Entertainment stock by 34% during the second quarter. Captrust Financial Advisors now has a total of 1,685 shares, valued at $37,000 due to a recent purchase of an additional 428 shares in the company over the past three months. This brought the total number of shares that the company owns to 1,685. The vast majority of the stock in the company is held by institutional investors, which accounts for 92.10 percent of the total.
The company’s market capitalization is currently estimated to be worth 1.62 billion dollars, while its price-to-earnings ratio is 11.95, and its beta value is 2.17. The company’s moving average over the previous 50 days is $23.14, and the moving average over the previous 200 days is $29.23.
On August 11, the quarterly earnings report for Six Flags Entertainment, which is traded on the NYSE under the symbol SIX, was made public. The company’s earnings per share for the quarter came in at $0.53, which was $0.48 less than the forecast that market analysts had for the company, which was $1.01 per share for the company’s earnings per share. The return on equity for Six Flags Entertainment was a negative 14.53%, and the company’s net margin was 8.83%. In contrast to the widespread belief that the company would bring in sales of $518.50 million for the quarter, the actual amount was $435.40 million. This result was significantly lower than the widely held assumption. The business earned a profit of $0.81 per share during the same period the year before. The company’s quarterly revenue was 5.3% lower than its results during the same period in the prior year. Market analysts think Six Flags Entertainment Co. will profit $1.92 per share of the company’s common stock during the current fiscal year.
Six Flags Entertainment Corporation is the owner and operator of several amusement and water parks across the country, all of which are branded with the Six Flags name. The company’s theme parks offer visitors a wide range of entertainment options, such as thrill rides, water attractions, themed zones, concerts, shows, restaurants, gaming areas, and retail outlets. In addition, the corporation sells various items, including food and beverages, and several other types of goods and services, within its parks.
Source: beststocks.com
