Morgan Stanley Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Six Flags Entertainment (NYSE:FUN) had its price target lowered by investment analysts at Morgan Stanley from $47.00 to $43.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 40.07% from the stock’s current price.

FUN has been the subject of several other reports. Stifel Nicolaus reduced their price objective on Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a report on Friday, July 18th. Wall Street Zen cut Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Barclays decreased their price objective on shares of Six Flags Entertainment from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 11th. JPMorgan Chase & Co. lowered their price objective on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group cut their target price on shares of Six Flags Entertainment from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Six Flags Entertainment presently has an average rating of “Moderate Buy” and an average price target of $45.40.

Six Flags Entertainment Stock Up 0.3%

Shares of NYSE FUN opened at $30.70 on Monday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -11.04 and a beta of 0.82. Six Flags Entertainment has a 52 week low of $27.07 and a 52 week high of $49.77. The firm has a 50-day moving average price of $31.18 and a 200 day moving average price of $35.88. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 2.75.

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

Insider Activity at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 7,162 shares in the company, valued at approximately $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Six Flags Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after purchasing an additional 884 shares in the last quarter. ORG Wealth Partners LLC lifted its position in Six Flags Entertainment by 45.8% during the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock worth $102,000 after acquiring an additional 1,002 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Six Flags Entertainment by 42.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock worth $175,000 after acquiring an additional 1,717 shares during the period. Trust Co. of Toledo NA OH grew its position in Six Flags Entertainment by 9.2% in the second quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company’s stock valued at $217,000 after acquiring an additional 600 shares in the last quarter. Finally, Castleview Partners LLC purchased a new stake in shares of Six Flags Entertainment during the second quarter valued at approximately $239,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.