Six Flags Entertainment’s (FUN) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Six Flags Entertainment (NYSE:FUN) in a research report report published on Monday, MarketBeat reports. They currently have a $20.00 price target on the stock, down from their previous price target of $30.00.

A number of other brokerages have also issued reports on FUN. JPMorgan Chase & Co. cut their price objective on shares of Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, August 14th. Capital One Financial set a $28.00 target price on shares of Six Flags Entertainment in a research note on Tuesday, October 7th. Oppenheimer decreased their price target on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. The Goldman Sachs Group dropped their price objective on shares of Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Truist Financial cut Six Flags Entertainment from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a report on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Six Flags Entertainment has an average rating of “Hold” and a consensus price target of $29.07.

Six Flags Entertainment Price Performance

NYSE:FUN opened at $16.18 on Monday. The business’s 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $27.80. Six Flags Entertainment has a 52 week low of $14.81 and a 52 week high of $49.77. The stock has a market cap of $1.64 billion, a PE ratio of -3.34 and a beta of 0.69. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings data on Friday, November 7th. The company reported ($11.77) earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.34 billion. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The business’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $4.21 EPS. As a group, analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in Six Flags Entertainment by 259.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 722 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at approximately $30,000. Allworth Financial LP boosted its holdings in shares of Six Flags Entertainment by 1,179.0% in the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock worth $46,000 after purchasing an additional 1,403 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after purchasing an additional 884 shares during the period. Finally, Caldwell Trust Co bought a new position in shares of Six Flags Entertainment during the 2nd quarter valued at approximately $56,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Six Flags Entertainment Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.