Alberta Investment Management Corp Takes $18.29 Million Position in Six Flags Entertainment Corporation $FUN

Alberta Investment Management Corp bought a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 601,000 shares of the company’s stock, valued at approximately $18,288,000. Alberta Investment Management Corp owned about 0.59% of Six Flags Entertainment as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP grew its position in shares of Six Flags Entertainment by 1,179.0% during the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after acquiring an additional 1,403 shares during the period. GAMMA Investing LLC lifted 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 worth $55,000 after buying an additional 884 shares in the last quarter. ORG Wealth Partners LLC raised its position in Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock valued at $102,000 after purchasing an additional 1,002 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Six Flags Entertainment by 42.5% in 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. Finally, Trust Co. of Toledo NA OH boosted its position in shares of Six Flags Entertainment by 9.2% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company’s stock worth $217,000 after acquiring an additional 600 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FUN. Barclays reduced their target price on Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Jefferies Financial Group cut Six Flags Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the company from $41.00 to $25.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. reduced their price objective on Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday. Guggenheim reduced their price target on shares of Six Flags Entertainment from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Six Flags Entertainment in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.07.

Six Flags Entertainment Stock Down 3.1%

NYSE:FUN opened at $14.60 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.42 and a current ratio of 0.52. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.01 and a beta of 0.69. Six Flags Entertainment Corporation has a one year low of $14.13 and a one year high of $49.77. The stock has a 50-day simple moving average of $21.77 and a 200 day simple moving average of $27.51.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Friday, November 7th. The company reported ($11.77) earnings per share for the quarter, missing the consensus estimate of $2.24 by ($14.01). The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.34 billion. Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.21 EPS. Sell-side analysts predict that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

Six Flags Entertainment 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.