Six Flags Entertainment (NYSE:SIX) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Six Flags Entertainment (NYSE:SIX) in a research note published on Wednesday, Marketbeat Ratings reports. The firm issued an underweight rating and a $16.00 target price on the stock.

A number of other brokerages have also commented on SIX. Citigroup decreased their price objective on Six Flags Entertainment from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Friday, August 11th. Macquarie dropped their target price on Six Flags Entertainment from $36.00 to $30.00 and set an outperform rating on the stock in a report on Monday, August 21st. StockNews.com began coverage on Six Flags Entertainment in a research note on Thursday, October 5th. They issued a hold rating on the stock. B. Riley decreased their target price on Six Flags Entertainment from $27.00 to $24.00 and set a neutral rating on the stock in a research report on Wednesday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Six Flags Entertainment from $38.00 to $31.00 and set a buy rating on the stock in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $29.47.

Six Flags Entertainment Stock Up 7.3 %

SIX stock opened at $23.99 on Wednesday. Six Flags Entertainment has a 52-week low of $18.29 and a 52-week high of $31.29. The company has a market capitalization of $2.00 billion, a PE ratio of 26.96 and a beta of 2.09. The stock’s 50 day moving average is $22.46 and its two-hundred day moving average is $24.02.

Six Flags Entertainment (NYSE:SIX) last announced its earnings results on Thursday, August 10th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.53). Six Flags Entertainment had a negative return on equity of 9.50% and a net margin of 5.83%. The company had revenue of $443.71 million for the quarter, compared to analyst estimates of $465.25 million. During the same period last year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Six Flags Entertainment will post 1.22 EPS for the current year.

Insider Buying and Selling

In other news, insider Aimee Williams-Ramey sold 11,630 shares of Six Flags Entertainment stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $24.45, for a total transaction of $284,353.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Six Flags Entertainment

Several institutional investors have recently added to or reduced their stakes in SIX. BlackRock Inc. boosted its position in shares of Six Flags Entertainment by 45.7% during the 3rd quarter. BlackRock Inc. now owns 9,918,652 shares of the company’s stock valued at $175,559,000 after purchasing an additional 3,108,978 shares in the last quarter. Land & Buildings Investment Management LLC boosted its position in shares of Six Flags Entertainment by 189.5% during the 4th quarter. Land & Buildings Investment Management LLC now owns 2,601,473 shares of the company’s stock valued at $60,484,000 after purchasing an additional 1,702,783 shares in the last quarter. Clearbridge Investments LLC raised its stake in Six Flags Entertainment by 242.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,297,340 shares of the company’s stock worth $99,934,000 after buying an additional 1,625,966 shares during the period. Simcoe Capital Management LLC purchased a new stake in shares of Six Flags Entertainment in the first quarter worth approximately $41,748,000. Finally, BNP Paribas Arbitrage SNC raised its stake in shares of Six Flags Entertainment by 7,017.0% in the second quarter. BNP Paribas Arbitrage SNC now owns 746,218 shares of the company’s stock worth $19,387,000 after purchasing an additional 735,733 shares during the last quarter. 99.03% of the stock is currently owned by institutional investors.

Six Flags Entertainment Company Profile

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.