Louisiana State Employees Retirement System Invests $799,000 in Six Flags Entertainment Corporation $FUN

Louisiana State Employees Retirement System acquired a new stake in Six Flags Entertainment Corporation (NYSE:FUN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $799,000.

Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Six Flags Entertainment by 26.1% during 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 period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Six Flags Entertainment by 259.7% during 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 in the last quarter. Invesco Ltd. boosted its stake in shares of Six Flags Entertainment by 2.5% during the second quarter. Invesco Ltd. now owns 236,798 shares of the company’s stock valued at $7,206,000 after purchasing an additional 5,775 shares in the last quarter. State Street Corp increased its holdings in Six Flags Entertainment by 0.8% during the second quarter. State Street Corp now owns 3,465,487 shares of the company’s stock valued at $105,455,000 after buying an additional 27,848 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Six Flags Entertainment by 249.9% in the second quarter. Qube Research & Technologies Ltd now owns 651,844 shares of the company’s stock worth $19,836,000 after buying an additional 465,572 shares in the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Marilyn G. Spiegel purchased 2,500 shares of the stock in a transaction dated Thursday, May 21st. The shares were purchased at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director directly owned 15,161 shares of the company’s stock, valued at approximately $289,575.10. The trade was a 19.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rehan Jaffer purchased 125,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at $114,709,000. This represents a 2.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 265,000 shares of company stock worth $6,173,850 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FUN shares. Oppenheimer lowered their target price on Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Citigroup started coverage on Six Flags Entertainment in a research report on Monday, June 29th. They set an “outperform” rating on the stock. Truist Financial lifted their target price on Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 12th. The Goldman Sachs Group boosted their target price on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Citizens Jmp began coverage on shares of Six Flags Entertainment in a report on Monday, June 29th. They issued a “market outperform” rating and a $29.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Six Flags Entertainment has an average rating of “Moderate Buy” and a consensus target price of $25.43.

Six Flags Entertainment Stock Performance

Shares of NYSE FUN traded down $0.12 during midday trading on Tuesday, reaching $19.43. The company had a trading volume of 267,619 shares, compared to its average volume of 2,157,495. The stock has a market cap of $1.99 billion, a P/E ratio of -1.19 and a beta of 0.38. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $33.50. The business’s 50-day simple moving average is $21.07 and its 200 day simple moving average is $18.38.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share 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 firm had revenue of $225.63 million during the quarter, compared to the consensus estimate of $207.49 million. On average, analysts forecast that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current fiscal year.

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.