Wedge Capital Management L L P NC lowered its stake in shares of Six Flags Entertainment Corp (NYSE:SIX) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 10,201 shares of the company’s stock after selling 301 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Six Flags Entertainment were worth $503,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in Six Flags Entertainment by 3.3% in the first quarter. Texas Permanent School Fund now owns 48,523 shares of the company’s stock valued at $2,395,000 after buying an additional 1,567 shares during the last quarter. Park Avenue Securities LLC boosted its position in Six Flags Entertainment by 14.1% in the first quarter. Park Avenue Securities LLC now owns 15,197 shares of the company’s stock valued at $754,000 after buying an additional 1,880 shares during the last quarter. Rhumbline Advisers boosted its position in Six Flags Entertainment by 1.3% in the first quarter. Rhumbline Advisers now owns 191,936 shares of the company’s stock valued at $9,472,000 after buying an additional 2,506 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in Six Flags Entertainment by 9.2% in the first quarter. Rice Hall James & Associates LLC now owns 311,971 shares of the company’s stock valued at $15,396,000 after buying an additional 26,221 shares during the last quarter. Finally, Menta Capital LLC purchased a new stake in Six Flags Entertainment in the first quarter valued at approximately $1,245,000. Hedge funds and other institutional investors own 89.72% of the company’s stock.
In other news, Director Kurt Matthew Cellar acquired 15,000 shares of Six Flags Entertainment stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average cost of $49.46 per share, with a total value of $741,900.00. Following the purchase, the director now owns 70,116 shares in the company, valued at $3,467,937.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Usman Nabi acquired 5,000 shares of Six Flags Entertainment stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $50.77 per share, with a total value of $253,850.00. Following the completion of the purchase, the director now owns 7,520 shares in the company, valued at approximately $381,790.40. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by corporate insiders.
Several research firms have commented on SIX. Wells Fargo & Co upgraded Six Flags Entertainment from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 17th. Oppenheimer lowered their price objective on Six Flags Entertainment from $80.00 to $68.00 in a research report on Thursday, January 17th. Zacks Investment Research lowered Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. ValuEngine upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, Jefferies Financial Group assumed coverage on Six Flags Entertainment in a research report on Monday, April 22nd. They set a “hold” rating and a $56.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Six Flags Entertainment presently has an average rating of “Hold” and an average target price of $60.00.
NYSE SIX traded up $0.23 during mid-day trading on Thursday, hitting $54.28. The stock had a trading volume of 14,664 shares, compared to its average volume of 1,323,883. Six Flags Entertainment Corp has a twelve month low of $46.68 and a twelve month high of $73.38. The company has a market cap of $4.52 billion, a P/E ratio of 16.79, a P/E/G ratio of 3.68 and a beta of 1.15.
Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.82) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.04. Six Flags Entertainment had a negative return on equity of 41.58% and a net margin of 18.40%. The firm had revenue of $128.19 million during the quarter, compared to the consensus estimate of $123.63 million. During the same period in the prior year, the company earned ($0.74) EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts predict that Six Flags Entertainment Corp will post 2.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 30th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend is Wednesday, May 29th. Six Flags Entertainment’s dividend payout ratio is currently 101.55%.
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Six Flags Entertainment Company Profile
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.
Further Reading: Hedge Funds – Risk or Reward?
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