Six Flags Entertainment (NYSE:SIX) Trading Down 5.4% After Analyst Downgrade

Six Flags Entertainment Co. (NYSE:SIXGet Rating) fell 5.4% on Thursday after Credit Suisse Group lowered their price target on the stock to $39.00. The company traded as low as $21.68 and last traded at $21.71. 15,179 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 2,901,298 shares. The stock had previously closed at $22.96.

SIX has been the topic of a number of other research reports. Citigroup increased their price objective on shares of Six Flags Entertainment from $20.00 to $23.00 in a research report on Monday, October 31st. Oppenheimer cut their price objective on shares of Six Flags Entertainment to $27.00 in a research report on Tuesday. Rosenblatt Securities cut their price objective on shares of Six Flags Entertainment from $56.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. KeyCorp cut shares of Six Flags Entertainment from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 12th. Finally, William Blair lowered shares of Six Flags Entertainment from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $22.00 to $47.00 in a report on Friday, November 11th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Six Flags Entertainment has a consensus rating of “Hold” and an average target price of $30.58.

Insider Buying and Selling at Six Flags Entertainment

In other news, Director Arik W. Ruchim acquired 400,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was purchased at an average price of $23.75 per share, for a total transaction of $9,500,000.00. Following the purchase, the director now owns 11,100,000 shares in the company, valued at approximately $263,625,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Arik W. Ruchim purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average price of $22.05 per share, with a total value of $1,102,500.00. Following the acquisition, the director now owns 10,700,000 shares of the company’s stock, valued at approximately $235,935,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arik W. Ruchim purchased 400,000 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was bought at an average cost of $23.75 per share, for a total transaction of $9,500,000.00. Following the acquisition, the director now directly owns 11,100,000 shares in the company, valued at approximately $263,625,000. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,004,175 shares of company stock worth $23,413,399. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of hedge funds have recently modified their holdings of the stock. Advisors Capital Management LLC raised its holdings in shares of Six Flags Entertainment by 6.9% in the 3rd quarter. Advisors Capital Management LLC now owns 180,781 shares of the company’s stock worth $4,265,000 after purchasing an additional 11,595 shares during the period. BNP Paribas Arbitrage SNC grew its stake in Six Flags Entertainment by 20.6% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 82,488 shares of the company’s stock valued at $1,460,000 after buying an additional 14,095 shares in the last quarter. State Street Corp grew its stake in Six Flags Entertainment by 8.2% in the 3rd quarter. State Street Corp now owns 2,245,547 shares of the company’s stock valued at $39,746,000 after buying an additional 171,093 shares in the last quarter. Algert Global LLC purchased a new position in Six Flags Entertainment in the 3rd quarter valued at approximately $180,000. Finally, Thunderbird Partners LLP grew its stake in Six Flags Entertainment by 12.2% in the 3rd quarter. Thunderbird Partners LLP now owns 3,552,544 shares of the company’s stock valued at $62,880,000 after buying an additional 387,103 shares in the last quarter. Institutional investors own 92.10% of the company’s stock.

Six Flags Entertainment Stock Performance

The firm has a market capitalization of $1.85 billion, a PE ratio of 19.49 and a beta of 2.20. The business’s 50 day moving average is $20.78 and its two-hundred day moving average is $23.70.

Six Flags Entertainment Company Profile

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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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