DAVENPORT & Co LLC Acquires 81,418 Shares of Six Flags Entertainment Corporation $FUN

DAVENPORT & Co LLC grew its holdings in shares of Six Flags Entertainment Corporation (NYSE:FUN) by 14.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 664,853 shares of the company’s stock after acquiring an additional 81,418 shares during the period. DAVENPORT & Co LLC’s holdings in Six Flags Entertainment were worth $20,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FUN. Balefire LLC increased its position in Six Flags Entertainment by 73.7% during the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock valued at $2,786,000 after buying an additional 38,832 shares in the last quarter. Peregrine Capital Management LLC grew its stake in shares of Six Flags Entertainment by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company’s stock worth $4,691,000 after acquiring an additional 9,231 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Six Flags Entertainment by 8.2% during the second quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company’s stock valued at $1,701,000 after acquiring an additional 4,251 shares in the last quarter. GAMMA Investing LLC raised its position 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 last quarter. Finally, ORG Wealth Partners LLC boosted its stake in Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock worth $102,000 after purchasing an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Price Performance

NYSE FUN opened at $22.35 on Tuesday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.61 and a beta of 0.71. Six Flags Entertainment Corporation has a 1-year low of $20.79 and a 1-year high of $49.77. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The business’s fifty day moving average price is $24.59 and its 200-day moving average price is $30.12.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The firm had revenue of $930.39 million for the quarter, compared to analysts’ expectations of $999.82 million. The company’s revenue was up 62.8% compared to the same quarter last year. On average, equities analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FUN shares. Oppenheimer reduced their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. UBS Group cut their price target on shares of Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Mizuho decreased their price objective on shares of Six Flags Entertainment from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.69.

About Six Flags Entertainment

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.