Six Flags Entertainment (NYSE:SIX – Get Rating) had its price objective cut by equities researchers at Truist Financial from $20.00 to $18.00 in a research note issued on Wednesday, The Fly reports. Truist Financial’s price target would suggest a potential downside of 6.25% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $32.00 target price on shares of Six Flags Entertainment in a report on Friday, September 9th. Citigroup downgraded Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $41.00 to $26.00 in a research note on Friday, July 8th. B. Riley downgraded Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $24.00 in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft cut their target price on Six Flags Entertainment from $56.00 to $38.00 in a research note on Friday, August 12th. Finally, Stifel Nicolaus raised their price target on Six Flags Entertainment from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.91.
Six Flags Entertainment Stock Up 9.4 %
NYSE:SIX opened at $19.20 on Wednesday. The stock’s 50-day simple moving average is $22.54 and its 200 day simple moving average is $28.08. The firm has a market capitalization of $1.60 billion, a PE ratio of 12.39 and a beta of 2.15. Six Flags Entertainment has a twelve month low of $16.83 and a twelve month high of $47.24.
Six Flags Entertainment (NYSE:SIX – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.29). Six Flags Entertainment had a negative return on equity of 14.53% and a net margin of 8.83%. The business had revenue of $435.40 million during the quarter, compared to the consensus estimate of $518.50 million. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Six Flags Entertainment will post 1.94 EPS for the current fiscal year.
Insider Buying and Selling at Six Flags Entertainment
In other Six Flags Entertainment news, major shareholder Rehan Jaffer purchased 250,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of $24.41 per share, with a total value of $6,102,500.00. Following the completion of the acquisition, the insider now directly owns 10,000,000 shares in the company, valued at $244,100,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Six Flags Entertainment news, Director Arik W. Ruchim acquired 50,000 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, September 12th. The stock was bought at an average price of $23.89 per share, with a total value of $1,194,500.00. Following the completion of the purchase, the director now directly owns 10,550,000 shares of the company’s stock, valued at approximately $252,039,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Rehan Jaffer acquired 250,000 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average cost of $24.41 per share, with a total value of $6,102,500.00. Following the purchase, the insider now directly owns 10,000,000 shares of the company’s stock, valued at $244,100,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,229,175 shares of company stock valued at $28,809,899 over the last ninety days. 0.41% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Six Flags Entertainment
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Six Flags Entertainment by 6.3% during the first quarter. Vanguard Group Inc. now owns 8,157,265 shares of the company’s stock worth $354,841,000 after purchasing an additional 483,965 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Six Flags Entertainment by 12.6% during the first quarter. Wellington Management Group LLP now owns 3,244,963 shares of the company’s stock worth $141,156,000 after purchasing an additional 362,407 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Six Flags Entertainment by 1.7% during the second quarter. Clearbridge Investments LLC now owns 2,336,167 shares of the company’s stock valued at $50,695,000 after buying an additional 38,827 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Six Flags Entertainment by 6.0% during the second quarter. JPMorgan Chase & Co. now owns 2,263,578 shares of the company’s stock valued at $49,119,000 after buying an additional 127,587 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Six Flags Entertainment by 3.4% during the first quarter. State Street Corp now owns 2,118,073 shares of the company’s stock valued at $92,136,000 after buying an additional 69,787 shares during the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.
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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