Six Flags Entertainment (NYSE:FUN) Rating Lowered to “Sell” at Wall Street Zen

Six Flags Entertainment (NYSE:FUN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other analysts have also recently issued reports on FUN. Guggenheim lowered their price objective on shares of Six Flags Entertainment from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group initiated coverage on shares of Six Flags Entertainment in a research note on Wednesday, April 9th. They set a “buy” rating and a $49.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus boosted their price objective on shares of Six Flags Entertainment from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley lowered their price objective on shares of Six Flags Entertainment from $58.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.20.

Six Flags Entertainment Trading Up 0.2%

Shares of FUN opened at $30.40 on Friday. The stock has a fifty day moving average of $33.99 and a two-hundred day moving average of $39.61. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.28 and a current ratio of 0.37. The company has a market capitalization of $3.07 billion, a PE ratio of -10.93 and a beta of 0.79. Six Flags Entertainment has a fifty-two week low of $28.02 and a fifty-two week high of $58.70.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share for the quarter, beating the consensus estimate of ($2.29) by $0.09. The company had revenue of $202.06 million during the quarter, compared to the consensus estimate of $235.51 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. Six Flags Entertainment’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current year.

Insider Buying and Selling

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the completion of the transaction, the director now directly owns 7,162 shares of the company’s stock, valued at $271,368.18. This represents a 45.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A hedge fund recently raised its stake in Six Flags Entertainment stock. Peregrine Capital Management LLC raised its position in Six Flags Entertainment Corporation (NYSE:FUN) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,499 shares of the company’s stock after buying an additional 9,231 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of Six Flags Entertainment worth $4,691,000 at the end of the most recent quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.