Six Flags Entertainment (NYSE:FUN) Sees Strong Trading Volume – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) shares saw an uptick in trading volume on Wednesday. Approximately 4,095,176 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 2,424,800 shares. The stock last traded at $7.11 and had previously closed at $7.86.

Analyst Ratings Changes

Several analysts recently issued reports on FUN shares. Guggenheim decreased their price objective on shares of Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday. Northcoast Research began coverage on shares of Six Flags Entertainment in a report on Wednesday, July 8th. They issued a “neutral” rating on the stock. UBS Group cut their target price on shares of Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, October 16th. The Goldman Sachs Group set a $15.00 price target on shares of Six Flags Entertainment in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $23.00 price target on shares of Six Flags Entertainment in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Six Flags Entertainment presently has a consensus rating of “Hold” and an average target price of $17.62.

Six Flags Entertainment Stock Performance

The firm’s fifty day moving average price is $12.91 and its 200-day moving average price is $17.35. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. The company has a market cap of $742.33 million, a P/E ratio of -0.42 and a beta of 0.45.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.15). Six Flags Entertainment had a negative net margin of 57.25% and a positive return on equity of 7.43%. The company had revenue of $864.92 million for the quarter, compared to analyst estimates of $928.36 million. During the same period in the prior year, the company posted $0.26 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts forecast that Six Flags Entertainment Corporation will post -0.91 EPS for the current fiscal year.

Insider Transactions at Six Flags Entertainment

In other news, CEO John Reilly purchased 15,713 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer directly owned 297,736 shares in the company, valued at approximately $4,704,228.80. The trade was a 5.57% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Six Flags Entertainment in the second quarter valued at $339,057,000. Kanen Wealth Management LLC bought a new position in Six Flags Entertainment in the first quarter worth $15,063,000. Bank of New York Mellon Corp acquired a new stake in Six Flags Entertainment during the second quarter worth $11,975,000. Jupiter Topco LLC acquired a new stake in Six Flags Entertainment during the second quarter worth $10,348,000. Finally, Bank of America Corp DE acquired a new stake in Six Flags Entertainment during the second quarter worth $9,066,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.