Six Flags Entertainment (NYSE:FUN) Trading Down 7.2% – What’s Next?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) traded down 7.2% during mid-day trading on Monday . The stock traded as low as $20.48 and last traded at $20.4150. Approximately 987,136 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,133,585 shares. The stock had previously closed at $22.01.

Analyst Ratings Changes

FUN has been the topic of several recent research reports. Guggenheim cut their target price on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 13th. UBS Group upped their price target on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Truist Financial raised their price objective on Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Wall Street Zen upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Weiss Ratings cut Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.43.

Six Flags Entertainment Stock Performance

The firm has a 50 day moving average of $20.90 and a two-hundred day moving average of $18.14. The stock has a market cap of $2.11 billion, a P/E ratio of -1.26 and a beta of 0.38. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) EPS for the quarter, topping the consensus estimate of ($2.71) by $0.06. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%.The company had revenue of $225.63 million for the quarter, compared to the consensus estimate of $207.49 million. On average, research analysts predict that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Richard M. Haddrill purchased 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $19.08 per share, with a total value of $190,800.00. Following the acquisition, the insider directly owned 230,117 shares in the company, valued at approximately $4,390,632.36. The trade was a 4.54% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rehan Jaffer acquired 125,000 shares of Six Flags Entertainment stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the transaction, the director directly owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 265,000 shares of company stock valued at $6,173,850 over the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC raised its stake in shares of Six Flags Entertainment by 145.5% in the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Six Flags Entertainment during the first quarter worth $26,000. Danske Bank A S acquired a new stake in Six Flags Entertainment during the third quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in Six Flags Entertainment in the 4th quarter valued at $28,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in 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 buying an additional 722 shares during the period. 64.65% of the stock is currently owned by institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.