Six Flags Entertainment (NYSE:FUN) Sets New 52-Week Low After Analyst Downgrade

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price hit a new 52-week low during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $49.00 to $40.00. UBS Group currently has a buy rating on the stock. Six Flags Entertainment traded as low as $27.90 and last traded at $28.15, with a volume of 379543 shares trading hands. The stock had previously closed at $28.71.

A number of other research analysts also recently issued reports on FUN. Stifel Nicolaus boosted their price objective on Six Flags Entertainment from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Barclays dropped their price target on Six Flags Entertainment from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 11th. The Goldman Sachs Group dropped their price target on Six Flags Entertainment from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Wall Street Zen downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Finally, Mizuho upped their price target on Six Flags Entertainment from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Insiders Place Their Bets

In related news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the sale, the director owned 7,162 shares in the company, valued at approximately $271,368.18. This represents a 45.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Six Flags Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Six Flags Entertainment by 96.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock valued at $55,000 after buying an additional 884 shares during the period. Wedge Capital Management L L P NC increased its stake in Six Flags Entertainment by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after purchasing an additional 335 shares during the period. Contravisory Investment Management Inc. increased its stake in Six Flags Entertainment by 42.5% in the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock worth $175,000 after purchasing an additional 1,717 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Six Flags Entertainment by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock worth $287,000 after purchasing an additional 484 shares during the period. Finally, Balefire LLC increased its stake in Six Flags Entertainment by 73.7% in the second quarter. Balefire LLC now owns 91,556 shares of the company’s stock worth $2,786,000 after purchasing an additional 38,832 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Stock Performance

The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The business has a 50 day simple moving average of $32.76 and a two-hundred day simple moving average of $37.56. The firm has a market cap of $2.77 billion, a PE ratio of -9.84 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 for the quarter, topping analysts’ consensus estimates 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 business had revenue of $202.06 million for the quarter, compared to analyst estimates of $235.51 million. The company’s revenue was up 98.9% on a year-over-year basis. As a group, equities research analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal 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.