Six Flags Entertainment (NYSE:FUN) Trading Down 5.9% – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) traded down 5.9% on Monday . The stock traded as low as $14.67 and last traded at $14.72. 877,174 shares were traded during trading, a decline of 70% from the average session volume of 2,921,558 shares. The stock had previously closed at $15.64.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research raised Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Mizuho reduced their price objective on shares of Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Wednesday, October 8th. Oppenheimer cut their price target on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Finally, Stifel Nicolaus decreased their price objective on shares of Six Flags Entertainment from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.29.

Six Flags Entertainment Price Performance

The company has a 50-day moving average of $18.88 and a 200-day moving average of $24.83. 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 stock has a market cap of $1.54 billion, a price-to-earnings ratio of -0.86 and a beta of 0.39.

Six Flags Entertainment (NYSE:FUN) last announced its earnings results on Friday, November 7th. The company reported ($11.77) earnings per share for the quarter, missing the consensus estimate of $2.24 by ($14.01). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Six Flags Entertainment had a negative net margin of 56.44% and a positive return on equity of 9.64%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.21 earnings per share. As a group, equities research analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Veracity Capital LLC lifted its stake in shares of Six Flags Entertainment by 20.0% in the second quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock valued at $769,000 after purchasing an additional 4,214 shares during the period. Balefire LLC increased its holdings in Six Flags Entertainment by 73.7% in the second quarter. Balefire LLC now owns 91,556 shares of the company’s stock valued at $2,786,000 after buying an additional 38,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock valued at $287,000 after acquiring an additional 484 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock worth $175,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after acquiring an additional 335 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.