Six Flags Entertainment (NYSE:FUN) Issues Earnings Results

Six Flags Entertainment (NYSE:FUN) posted its earnings results on Thursday. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.62), Zacks reports. Six Flags Entertainment had a negative net margin of 56.44% and a positive return on equity of 9.64%. The company had revenue of $650.09 million for the quarter, compared to analysts’ expectations of $602.68 million. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Six Flags Entertainment Trading Up 6.4%

Six Flags Entertainment stock traded up $1.04 during trading hours on Thursday, hitting $17.26. The company had a trading volume of 1,183,928 shares, compared to its average volume of 2,518,137. The company has a debt-to-equity ratio of 8.16, a quick ratio of 0.48 and a current ratio of 0.58. The firm has a market cap of $1.75 billion, a P/E ratio of -0.96 and a beta of 0.39. The company has a 50-day moving average price of $16.14 and a two-hundred day moving average price of $19.51. Six Flags Entertainment has a 1 year low of $12.51 and a 1 year high of $48.80.

Analyst Ratings Changes

A number of research firms recently issued reports on FUN. Barclays decreased their price target on shares of Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Mizuho lowered their price target on shares of Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. JPMorgan Chase & Co. dropped their price target on Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group dropped their target price on Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.86.

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley grew its position in shares of Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after buying an additional 3,629,445 shares in the last quarter. Darlington Partners Capital Management LP lifted its stake in Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock worth $264,741,000 after acquiring an additional 1,460,000 shares during the period. Dendur Capital LP grew its holdings in Six Flags Entertainment by 6.2% during the 4th quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock worth $75,987,000 after acquiring an additional 290,000 shares in the last quarter. Rush Island Management LP purchased a new position in Six Flags Entertainment during the 2nd quarter valued at about $115,454,000. Finally, State Street Corp raised its holdings in shares of Six Flags Entertainment by 2.8% in the 4th quarter. State Street Corp now owns 3,614,025 shares of the company’s stock valued at $55,439,000 after purchasing an additional 97,614 shares in the last quarter. 64.65% of the stock is owned by 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.