BB&T Securities LLC increased its position in Six Flags Entertainment Corp (NYSE:SIX) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,884 shares of the company’s stock after acquiring an additional 2,178 shares during the period. BB&T Securities LLC owned approximately 0.05% of Six Flags Entertainment worth $3,214,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in shares of Six Flags Entertainment by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 53,943 shares of the company’s stock worth $3,779,000 after acquiring an additional 763 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Six Flags Entertainment by 31.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,210 shares of the company’s stock worth $225,000 after acquiring an additional 772 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Six Flags Entertainment by 9.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,961 shares of the company’s stock worth $621,000 after acquiring an additional 853 shares during the period. Amalgamated Bank increased its holdings in shares of Six Flags Entertainment by 6.5% in the 1st quarter. Amalgamated Bank now owns 14,841 shares of the company’s stock worth $924,000 after acquiring an additional 902 shares during the period. Finally, Brookstone Capital Management increased its holdings in shares of Six Flags Entertainment by 15.0% in the 2nd quarter. Brookstone Capital Management now owns 7,467 shares of the company’s stock worth $523,000 after acquiring an additional 972 shares during the period. 94.58% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on SIX shares. Zacks Investment Research raised shares of Six Flags Entertainment from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Saturday, July 28th. Wells Fargo & Co cut shares of Six Flags Entertainment from an “outperform” rating to a “market perform” rating in a report on Monday, July 9th. KeyCorp increased their price objective on shares of Six Flags Entertainment from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Finally, Wedbush cut shares of Six Flags Entertainment from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $76.00 to $70.00 in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.11.
Six Flags Entertainment stock opened at $69.41 on Friday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 33.17 and a beta of 0.99. The company has a debt-to-equity ratio of -3.10, a quick ratio of 0.48 and a current ratio of 0.55. Six Flags Entertainment Corp has a 52 week low of $55.46 and a 52 week high of $73.38.
Six Flags Entertainment (NYSE:SIX) last released its earnings results on Wednesday, July 25th. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.05). The company had revenue of $445.40 million for the quarter, compared to analyst estimates of $438.80 million. Six Flags Entertainment had a net margin of 20.65% and a negative return on equity of 33.82%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. research analysts forecast that Six Flags Entertainment Corp will post 2.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Thursday, August 30th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $3.12 annualized dividend and a yield of 4.50%. Six Flags Entertainment’s payout ratio is 146.48%.
In related news, Director Richard Roedel bought 3,974 shares of the stock in a transaction on Wednesday, August 1st. The shares were purchased at an average price of $62.85 per share, with a total value of $249,765.90. Following the purchase, the director now owns 14,293 shares in the company, valued at $898,315.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James Reid-Anderson sold 35,815 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $72.53, for a total transaction of $2,597,661.95. Following the transaction, the chairman now directly owns 3,311,172 shares in the company, valued at approximately $240,159,305.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,860 shares of company stock worth $2,873,546. 6.90% of the stock is owned by corporate insiders.
Six Flags Entertainment Company Profile
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand 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 20 parks, including 17 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.
Further Reading: Earnings Per Share
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