Six Flags Entertainment (NYSE:FUN) Shares Up 6.6% – Here’s Why

Six Flags Entertainment Corporation (NYSE:FUN) shot up 6.6% on Wednesday . The stock traded as high as $15.12 and last traded at $15.18. Approximately 320,951 shares were traded during trading, a decline of 85% from the average daily volume of 2,154,236 shares. The stock had previously closed at $14.24.

Analyst Ratings Changes

Several brokerages have recently issued reports on FUN. The Goldman Sachs Group set a $15.00 price objective on Six Flags Entertainment in a research note on Friday, August 7th. Mizuho set a $10.00 target price on shares of Six Flags Entertainment and gave the company an “underperform” rating in a report on Friday, August 7th. Guggenheim decreased 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 research note on Friday, July 24th. Citizens Jmp lowered their price target on shares of Six Flags Entertainment from $29.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Six Flags Entertainment currently has an average rating of “Hold” and an average target price of $21.93.

Six Flags Entertainment Price Performance

The stock has a fifty day simple moving average of $17.67 and a 200-day simple moving average of $18.65. The company has a market capitalization of $1.55 billion, a PE ratio of -0.87 and a beta of 0.38. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34.

Insider Buying and Selling at Six Flags Entertainment

In other news, Director Rehan Jaffer bought 125,000 shares of Six Flags Entertainment stock in a transaction dated 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John T. Reilly bought 15,713 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the transaction, the chief executive officer owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired 265,713 shares of company stock valued at $6,135,765 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of Six Flags Entertainment by 36.1% during 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. Russell Investments Group Ltd. raised its position in Six Flags Entertainment by 26.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 722 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Six Flags Entertainment by 26.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,588 shares of the company’s stock worth $82,000 after purchasing an additional 748 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Six Flags Entertainment by 10.6% during the 2nd quarter. Corient Private Wealth LLC now owns 9,290 shares of the company’s stock worth $283,000 after purchasing an additional 888 shares during the period. 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.