Six Flags Entertainment (NYSE:FUN) Shares Down 3.8% – Here’s Why

Shares of Six Flags Entertainment Corporation (NYSE:FUN) were down 3.8% during mid-day trading on Tuesday. The stock traded as low as $7.98 and last traded at $7.9980. 440,459 shares were traded during trading, a decline of 82% from the average daily volume of 2,392,808 shares. The stock had previously closed at $8.31.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citizens Jmp dropped their price objective on Six Flags Entertainment from $29.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th. The Goldman Sachs Group set a $15.00 target price on Six Flags Entertainment in a research report on Friday, August 7th. UBS Group lowered their target price on Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus set a $23.00 price target on Six Flags Entertainment in a research report on Friday, August 7th. Finally, Zacks Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Six Flags Entertainment presently has a consensus rating of “Hold” and an average price target of $19.62.

Six Flags Entertainment Price Performance

The firm has a market cap of $797.07 million, a P/E ratio of -0.45 and a beta of 0.45. The business’s fifty day simple moving average is $13.44 and its 200-day simple moving average is $17.56. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.15). The company had revenue of $864.92 million for the quarter, compared to the consensus estimate of $928.36 million. Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, analysts forecast that Six Flags Entertainment Corporation will post -0.91 EPS for the current fiscal year.

Insider Activity at Six Flags Entertainment

In other news, CEO John Reilly acquired 15,713 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the completion of the transaction, the chief executive officer owned 297,736 shares of the company’s stock, valued at $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Six Flags Entertainment in the second quarter valued at approximately $339,057,000. Kanen Wealth Management LLC purchased a new stake in shares of Six Flags Entertainment in the 1st quarter valued at $15,063,000. Bank of New York Mellon Corp bought a new position in shares of Six Flags Entertainment during the 2nd quarter valued at $11,975,000. Principal Financial Group Inc. raised its position in Six Flags Entertainment by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 495,349 shares of the company’s stock worth $8,792,000 after purchasing an additional 10,760 shares during the period. Finally, Jupiter Topco LLC bought a new stake in Six Flags Entertainment in the second quarter worth $10,348,000. 64.65% of the stock is currently owned by institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation operates amusement parks, water parks and resort properties across the United States, Canada and Mexico. Its portfolio offers roller coasters, family rides, water attractions, live entertainment, themed events, dining, retail and other guest experiences.

The company was formed through the 2024 merger of Six Flags Entertainment Corporation and Cedar Fair, L.P., combining the Six Flags and Cedar Fair park portfolios. Its properties include Six Flags-branded parks as well as parks operating under established regional brands such as Cedar Point, Kings Island, Knott’s Berry Farm and Canada’s Wonderland.

Six Flags serves vacationers, families and regional visitors through admission tickets, season passes, memberships, food and merchandise sales, and accommodations at select destinations.