Six Flags Entertainment (NYSE:FUN) Shares Down 8.3% – Time to Sell?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) fell 8.3% during trading on Monday . The stock traded as low as $22.92 and last traded at $22.87. 1,386,256 shares changed hands during trading, a decline of 34% from the average daily volume of 2,102,686 shares. The stock had previously closed at $24.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings downgraded Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Barclays boosted their price objective on Six Flags Entertainment from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup upped their target price on Six Flags Entertainment from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, UBS Group lifted their price target on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.15.

Six Flags Entertainment Stock Performance

The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -1.40 and a beta of 0.38. The firm has a 50 day simple moving average of $20.61 and a 200-day simple moving average of $17.88.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) EPS for the quarter, beating the consensus estimate of ($2.71) by $0.06. The business had revenue of $225.63 million for the quarter, compared to analyst estimates 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, analysts predict that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Six Flags Entertainment

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kanen Wealth Management LLC acquired a new position in shares of Six Flags Entertainment during the first quarter worth about $15,063,000. California State Teachers Retirement System raised its holdings in Six Flags Entertainment by 29.0% in the first quarter. California State Teachers Retirement System now owns 118,782 shares of the company’s stock valued at $2,108,000 after acquiring an additional 26,697 shares in the last quarter. Royal Bank of Canada raised its holdings in Six Flags Entertainment by 13.5% in the first quarter. Royal Bank of Canada now owns 86,303 shares of the company’s stock valued at $1,533,000 after acquiring an additional 10,294 shares in the last quarter. Saba Capital Management L.P. lifted its stake in Six Flags Entertainment by 12.5% in the first quarter. Saba Capital Management L.P. now owns 112,520 shares of the company’s stock worth $1,997,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Six Flags Entertainment by 36.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company’s stock worth $36,000 after acquiring an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.