Six Flags Entertainment (NYSE:FUN) Coverage Initiated by Analysts at Northcoast Research

Northcoast Research began coverage on shares of Six Flags Entertainment (NYSE:FUN) in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

Several other research firms have also recently weighed in on FUN. Barclays boosted their price target 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 started coverage on Six Flags Entertainment in a research report on Monday, June 29th. They set an “outperform” rating on the stock. Weiss Ratings downgraded Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. The Goldman Sachs Group boosted their target price on Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.43.

Six Flags Entertainment Stock Down 2.4%

NYSE FUN opened at $18.65 on Wednesday. Six Flags Entertainment has a 1 year low of $12.51 and a 1 year high of $33.50. 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 business’s 50-day moving average is $21.09 and its 200 day moving average is $18.44. The stock has a market capitalization of $1.91 billion, a PE ratio of -1.14 and a beta of 0.38.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) EPS for the quarter, topping the consensus estimate of ($2.71) by $0.06. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. The business had revenue of $225.63 million during the quarter, compared to analyst estimates of $207.49 million. Sell-side analysts forecast that Six Flags Entertainment will post -0.28 earnings per share for the current year.

Insider Activity

In other news, insider Richard M. Haddrill purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $19.08 per share, for a total transaction of $190,800.00. Following the completion of the purchase, the insider owned 230,117 shares in the company, valued at approximately $4,390,632.36. This represents a 4.54% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rehan Jaffer acquired 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $23.41 per share, for a total transaction of $2,926,250.00. Following the transaction, the director owned 4,900,000 shares in the company, valued at approximately $114,709,000. The trade was a 2.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 265,000 shares of company stock valued at $6,173,850 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in shares of 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 period. Russell Investments Group Ltd. lifted its position in Six Flags Entertainment by 26.1% during the second 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 period. Northwestern Mutual Wealth Management Co. boosted its holdings in Six Flags Entertainment by 259.7% in the second 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 holdings in Six Flags Entertainment by 26.3% in the third quarter. CIBC Private Wealth Group LLC now owns 3,588 shares of the company’s stock valued at $82,000 after purchasing an additional 748 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position 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. Institutional investors and hedge funds own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

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.