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 research report issued to clients and investors on Wednesday. The firm set a “neutral” rating on the stock.

A number of other equities research analysts have also weighed in on FUN. Weiss Ratings lowered Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Guggenheim dropped their price target on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Truist Financial boosted their price objective on shares of Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Zacks Research cut shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. raised shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Six Flags Entertainment presently has an average rating of “Moderate Buy” and an average price target of $25.43.

Six Flags Entertainment Trading Down 2.3%

FUN stock opened at $19.11 on Wednesday. The company has a market capitalization of $1.95 billion, a PE ratio of -1.17 and a beta of 0.38. The company’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $18.41. Six Flags Entertainment has a one year low of $12.51 and a one year high of $33.50. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68.

Six Flags Entertainment (NYSE:FUN) last issued its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, beating the consensus estimate of ($2.71) by $0.06. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%.The company had revenue of $225.63 million during the quarter, compared to analysts’ expectations of $207.49 million. As a group, analysts predict that Six Flags Entertainment will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors have recently modified their holdings of the business. Kanen Wealth Management LLC bought a new stake in Six Flags Entertainment in the 1st quarter worth about $15,063,000. California State Teachers Retirement System lifted its position in Six Flags Entertainment by 29.0% during the first quarter. California State Teachers Retirement System now owns 118,782 shares of the company’s stock valued at $2,108,000 after purchasing an additional 26,697 shares during the period. Royal Bank of Canada boosted its holdings in Six Flags Entertainment by 13.5% in the first quarter. Royal Bank of Canada now owns 86,303 shares of the company’s stock worth $1,533,000 after purchasing an additional 10,294 shares during the last quarter. Saba Capital Management L.P. grew its position in Six Flags Entertainment by 12.5% in the 1st quarter. Saba Capital Management L.P. now owns 112,520 shares of the company’s stock worth $1,997,000 after purchasing an additional 12,500 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Six Flags Entertainment by 36.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company’s stock worth $36,000 after purchasing an additional 539 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.