Six Flags Entertainment (NYSE:SIX) Stock Price Down 5%

Six Flags Entertainment Co. (NYSE:SIXGet Rating)’s share price was down 5% on Wednesday . The company traded as low as $21.69 and last traded at $21.73. Approximately 20,889 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 2,821,337 shares. The stock had previously closed at $22.87.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SIX shares. Jefferies Financial Group restated a “buy” rating and issued a $32.00 target price on shares of Six Flags Entertainment in a research report on Friday, September 9th. Citigroup lowered shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the stock from $41.00 to $26.00 in a report on Friday, July 8th. Credit Suisse Group cut their price target on shares of Six Flags Entertainment from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. B. Riley lowered shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $24.00 in a report on Tuesday, June 21st. Finally, Stifel Nicolaus cut their price target on shares of Six Flags Entertainment from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Six Flags Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.91.

Six Flags Entertainment Stock Down 7.4 %

The stock has a market capitalization of $1.61 billion, a P/E ratio of 12.49 and a beta of 2.17. The firm’s 50 day simple moving average is $23.20 and its two-hundred day simple moving average is $29.51.

Six Flags Entertainment (NYSE:SIXGet Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $435.40 million during the quarter, compared to the consensus estimate of $518.50 million. During the same period last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Six Flags Entertainment Co. will post 1.92 earnings per share for the current year.

Insider Buying and Selling at Six Flags Entertainment

In related news, major shareholder Rehan Jaffer purchased 250,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was purchased at an average cost of $24.41 per share, with a total value of $6,102,500.00. Following the completion of the purchase, the insider now owns 10,000,000 shares in the company, valued at approximately $244,100,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Six Flags Entertainment news, CFO Gary Mick bought 4,175 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was bought at an average cost of $22.85 per share, with a total value of $95,398.75. Following the completion of the transaction, the chief financial officer now directly owns 34,175 shares in the company, valued at approximately $780,898.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rehan Jaffer bought 250,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were acquired at an average cost of $24.41 per share, with a total value of $6,102,500.00. Following the completion of the transaction, the insider now owns 10,000,000 shares of the company’s stock, valued at $244,100,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,229,175 shares of company stock valued at $28,809,899. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in Six Flags Entertainment during the first quarter worth about $35,000. Acadian Asset Management LLC purchased a new position in Six Flags Entertainment during the fourth quarter worth about $39,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Six Flags Entertainment by 58.5% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,159 shares of the company’s stock worth $51,000 after purchasing an additional 428 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Six Flags Entertainment by 58.9% during the first quarter. Captrust Financial Advisors now owns 1,257 shares of the company’s stock worth $55,000 after purchasing an additional 466 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Six Flags Entertainment by 464.1% during the second quarter. Spire Wealth Management now owns 1,258 shares of the company’s stock worth $27,000 after purchasing an additional 1,035 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Six Flags Entertainment Company Profile

(Get Rating)

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.

Further Reading

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