Six Flags Entertainment (NYSE:FUN) Shares Down 8.3% – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) fell 8.3% on Monday . The stock traded as low as $13.56 and last traded at $13.3880. 2,322,660 shares traded hands during trading, a decline of 19% from the average session volume of 2,861,146 shares. The stock had previously closed at $14.60.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FUN. Guggenheim reduced their price target on Six Flags Entertainment from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Jefferies Financial Group cut shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $41.00 to $25.00 in a report on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Six Flags Entertainment in a report on Wednesday, October 8th. Barclays lowered their target price on shares of Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Finally, Citigroup dropped their target price on Six Flags Entertainment from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.07.

Six Flags Entertainment Price Performance

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -2.81 and a beta of 0.69. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The company’s 50 day moving average is $21.39 and its 200 day moving average is $27.16.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings data on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($14.01). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted $4.21 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts anticipate that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

Several large investors have recently modified their holdings of FUN. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the period. Danske Bank A S acquired a new position in Six Flags Entertainment in the third quarter valued at $27,000. Ameritas Advisory Services LLC purchased a new stake in shares of Six Flags Entertainment in the third quarter valued at about $30,000. Allworth Financial LP raised its holdings in shares of Six Flags Entertainment by 1,179.0% in the second quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after buying an additional 1,403 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after buying an additional 884 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

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.