Six Flags Entertainment Corp (NYSE:SIX) Given Consensus Rating of “Hold” by Brokerages

Shares of Six Flags Entertainment Corp (NYSE:SIX) have been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $43.00.

Several brokerages recently commented on SIX. Wedbush cut their price objective on shares of Six Flags Entertainment from to in a research report on Friday, January 10th. Jefferies Financial Group cut their price objective on shares of Six Flags Entertainment from $44.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Co downgraded shares of Six Flags Entertainment from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $49.00 to $42.00 in a research report on Friday, January 10th. They noted that the move was a valuation call. SunTrust Banks downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the company from $54.00 to $36.00 in a research report on Friday, January 10th. Finally, ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd.

Shares of SIX stock opened at $39.21 on Friday. Six Flags Entertainment has a one year low of $35.06 and a one year high of $59.52. The company’s 50-day moving average is $39.74 and its 200 day moving average is $47.25. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.98.

In related news, CEO Mike Spanos purchased 10,950 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $45.73 per share, with a total value of $500,743.50. Following the acquisition, the chief executive officer now directly owns 10,950 shares in the company, valued at approximately $500,743.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jon L. Luther purchased 2,175 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $45.88 per share, for a total transaction of $99,789.00. Following the acquisition, the director now owns 63,417 shares in the company, valued at $2,909,571.96. The disclosure for this purchase can be found here. Company insiders own 5.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SIX. BlackRock Inc. boosted its position in shares of Six Flags Entertainment by 4.7% during the 2nd quarter. BlackRock Inc. now owns 6,826,552 shares of the company’s stock worth $339,145,000 after acquiring an additional 304,187 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Six Flags Entertainment by 30.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,800 shares of the company’s stock worth $1,463,000 after acquiring an additional 6,700 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Six Flags Entertainment by 6.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 65,075 shares of the company’s stock worth $3,305,000 after acquiring an additional 3,814 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Six Flags Entertainment by 15.8% during the 3rd quarter. Wedbush Securities Inc. now owns 9,578 shares of the company’s stock worth $486,000 after acquiring an additional 1,305 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its position in shares of Six Flags Entertainment by 10.0% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,515 shares of the company’s stock worth $179,000 after acquiring an additional 320 shares in the last quarter. 82.20% of the stock is currently owned by hedge funds and other institutional investors.

About Six Flags Entertainment

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: Derivative

Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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