Six Flags Entertainment (NYSE:FUN) Trading Down 18.6% – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price dropped 18.6% during mid-day trading on Thursday . The stock traded as low as $14.98 and last traded at $15.2680. Approximately 786,450 shares were traded during mid-day trading, a decline of 63% from the average session volume of 2,127,178 shares. The stock had previously closed at $18.75.

Analysts Set New Price Targets

FUN has been the subject of a number of recent research reports. UBS Group increased their target price on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Wall Street Zen lowered Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Citizens Jmp initiated coverage on shares of Six Flags Entertainment in a research note on Monday, June 29th. They issued a “market outperform” rating and a $29.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Guggenheim cut their price target on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Six Flags Entertainment Trading Down 18.1%

The business has a 50 day moving average of $20.42 and a 200 day moving average of $18.87. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -0.94 and a beta of 0.40. The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62.

Six Flags Entertainment (NYSE:FUN) last issued its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.06. The firm had revenue of $225.63 million for the quarter, compared to analysts’ expectations of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. As a group, research analysts predict that Six Flags Entertainment Corporation will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Marilyn G. Spiegel acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the acquisition, the director owned 15,161 shares in the company, valued at $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rehan Jaffer bought 125,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the purchase, the director owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This trade represents a 2.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 265,000 shares of company stock valued at $6,173,850 in the last 90 days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after purchasing an additional 3,629,445 shares in the last quarter. Darlington Partners Capital Management LP lifted its holdings in shares of Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock valued at $264,741,000 after purchasing an additional 1,460,000 shares in the last quarter. UBS Group AG lifted its holdings in shares of Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock valued at $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. Dendur Capital LP boosted its position in shares of Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock worth $75,987,000 after buying an additional 290,000 shares during the period. Finally, Rush Island Management LP acquired a new position in shares of Six Flags Entertainment during the second quarter worth about $115,454,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.