Six Flags Entertainment Target of Unusually Large Options Trading (NYSE:FUN)

Six Flags Entertainment Corporation (NYSE:FUN) saw some unusual options trading activity on Wednesday. Stock investors purchased 9,795 call options on the company. Thisisanincreaseof538% compared to the typical volume of 1,536 call options.

Six Flags Entertainment Stock Down 20.7%

Shares of NYSE:FUN opened at $24.35 on Thursday. The firm has a market capitalization of $2.46 billion, a PE ratio of -8.76 and a beta of 0.82. The business has a 50 day simple moving average of $30.98 and a two-hundred day simple moving average of $35.80. Six Flags Entertainment has a 1 year low of $21.44 and a 1 year high of $49.77. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.28.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($2.01). The business had revenue of $930.39 million for the quarter, compared to analysts’ expectations of $999.82 million. Six Flags Entertainment had a negative net margin of 11.30% and a positive return on equity of 0.66%. The business’s quarterly revenue was up 62.8% on a year-over-year basis. On average, equities analysts predict that Six Flags Entertainment will post 0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FUN shares. Citigroup decreased their price target on Six Flags Entertainment from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, July 10th. The Goldman Sachs Group dropped their price target on shares of Six Flags Entertainment from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Truist Financial lowered their price objective on shares of Six Flags Entertainment from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus cut their target price on shares of Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Finally, Barclays decreased their target price on shares of 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Six Flags Entertainment has an average rating of “Moderate Buy” and a consensus target price of $45.40.

Insider Transactions at Six Flags Entertainment

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the firm’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 transaction of $224,649.81. Following the completion of the transaction, the director owned 7,162 shares of the company’s stock, valued at approximately $271,368.18. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FUN. Peregrine Capital Management LLC raised its position in Six Flags Entertainment by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company’s stock valued at $4,691,000 after purchasing an additional 9,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Six Flags Entertainment by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock valued at $287,000 after buying an additional 484 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Six Flags Entertainment by 14.0% in the second quarter. DAVENPORT & Co LLC now owns 664,853 shares of the company’s stock valued at $20,231,000 after acquiring an additional 81,418 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Six Flags Entertainment by 16.1% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 60,769 shares of the company’s stock worth $1,849,000 after acquiring an additional 8,443 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Six Flags Entertainment by 8.2% in the second quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company’s stock worth $1,701,000 after acquiring an additional 4,251 shares during the period. 64.65% of the stock is currently owned by institutional investors.

Six Flags Entertainment Company Profile

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.