Verition Fund Management LLC boosted its holdings in shares of Six Flags Entertainment Co. (NYSE:SIX – Get Rating) by 61.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,936 shares of the company’s stock after buying an additional 8,731 shares during the period. Verition Fund Management LLC’s holdings in Six Flags Entertainment were worth $998,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Six Flags Entertainment during the 1st quarter worth about $35,000. Acadian Asset Management LLC acquired a new position in shares of Six Flags Entertainment in the 4th quarter valued at approximately $39,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Six Flags Entertainment by 58.5% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,159 shares of the company’s stock valued at $51,000 after purchasing an additional 428 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Six Flags Entertainment by 58.9% in the 1st quarter. Captrust Financial Advisors now owns 1,257 shares of the company’s stock valued at $55,000 after buying an additional 466 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Six Flags Entertainment in the 1st quarter valued at $77,000. Institutional investors and hedge funds own 92.10% of the company’s stock.
Wall Street Analysts Forecast Growth
SIX has been the topic of a number of research analyst reports. KeyCorp cut Six Flags Entertainment from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a $32.00 price target on shares of Six Flags Entertainment in a research report on Friday, September 9th. Oppenheimer decreased their price target on Six Flags Entertainment from $54.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Credit Suisse Group decreased their price target on Six Flags Entertainment from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Finally, Rosenblatt Securities reduced their price objective on Six Flags Entertainment from $56.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.91.
Six Flags Entertainment Trading Down 8.6 %
Six Flags Entertainment (NYSE:SIX – Get Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.48). Six Flags Entertainment had a net margin of 8.83% and a negative return on equity of 14.53%. The firm had revenue of $435.40 million for the quarter, compared to analyst estimates of $518.50 million. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Six Flags Entertainment Co. will post 1.92 earnings per share for the current fiscal year.
Insider Transactions at Six Flags Entertainment
In related news, CFO Gary Mick acquired 4,175 shares of the stock in a transaction dated Tuesday, September 13th. The stock was bought at an average cost of $22.85 per share, for a total transaction of $95,398.75. Following the completion of the transaction, the chief financial officer now directly owns 34,175 shares of the company’s stock, valued at $780,898.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Rehan Jaffer acquired 250,000 shares of the stock in a transaction dated Monday, August 15th. The stock was bought at an average cost of $24.41 per share, for a total transaction of $6,102,500.00. Following the completion of the transaction, the insider now directly owns 10,000,000 shares of the company’s stock, valued at $244,100,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gary Mick bought 4,175 shares of the stock in a transaction on Tuesday, September 13th. The stock was acquired at an average price of $22.85 per share, with a total value of $95,398.75. Following the completion of the acquisition, the chief financial officer now owns 34,175 shares of the company’s stock, valued at approximately $780,898.75. The disclosure for this purchase can be found here. Insiders purchased 1,229,175 shares of company stock worth $28,809,899 over the last ninety days. 0.41% of the stock is owned by insiders.
About Six Flags Entertainment
Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.
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