Six Flags Entertainment (NYSE:FUN) Stock Price Down 4.4% After Analyst Downgrade

Six Flags Entertainment Corporation (NYSE:FUN) shares dropped 4.4% on Friday after Barclays lowered their price target on the stock from $43.00 to $40.00. Barclays currently has an overweight rating on the stock. Six Flags Entertainment traded as low as $30.27 and last traded at $29.97. Approximately 343,017 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,854,837 shares. The stock had previously closed at $31.35.

Several other research firms also recently commented on FUN. Wall Street Zen downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Truist Financial lowered their target price on shares of Six Flags Entertainment from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus boosted their target price on shares of Six Flags Entertainment from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. lowered their target price on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley lowered their target price on shares of Six Flags Entertainment from $58.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

Insiders Place Their Bets

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the transaction, the director owned 7,162 shares in the company, valued at $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FUN. Wedge Capital Management L L P NC grew its holdings in Six Flags Entertainment by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after acquiring an additional 335 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock valued at $287,000 after purchasing an additional 484 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $175,000 after purchasing an additional 1,717 shares during the last quarter. Veracity Capital LLC lifted its holdings in shares of Six Flags Entertainment by 20.0% during the 2nd quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock valued at $769,000 after purchasing an additional 4,214 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its position in shares of Six Flags Entertainment by 7.5% in the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company’s stock valued at $4,691,000 after acquiring an additional 9,231 shares during the period. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Stock Performance

The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 2.75. The firm has a 50-day moving average of $33.06 and a 200-day moving average of $37.93. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -10.73 and a beta of 0.76.

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

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.