Balefire LLC Decreases Stock Holdings in Six Flags Entertainment Corporation $FUN

Balefire LLC cut its stake in Six Flags Entertainment Corporation (NYSE:FUN) by 50.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,039 shares of the company’s stock after selling 46,517 shares during the quarter. Balefire LLC’s holdings in Six Flags Entertainment were worth $1,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rush Island Management LP purchased a new position in Six Flags Entertainment in the second quarter valued at about $115,454,000. Darlington Partners Capital Management LP lifted its position in shares of Six Flags Entertainment by 20.2% in the 2nd quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock worth $264,741,000 after buying an additional 1,460,000 shares during the last quarter. Dendur Capital LP grew its position in shares of Six Flags Entertainment by 41.1% during the 2nd quarter. Dendur Capital LP now owns 4,433,500 shares of the company’s stock valued at $134,911,000 after buying an additional 1,292,500 shares during the last quarter. Long Pond Capital LP boosted its position in Six Flags Entertainment by 55.2% during the 2nd quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after purchasing an additional 1,172,101 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Six Flags Entertainment in the 2nd quarter valued at about $18,288,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Stock Down 0.4%

NYSE:FUN opened at $14.72 on Thursday. Six Flags Entertainment Corporation has a 1-year low of $12.51 and a 1-year high of $49.77. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -0.83 and a beta of 0.39. The company has a current ratio of 0.58, a quick ratio of 0.48 and a debt-to-equity ratio of 8.16. The business’s fifty day moving average price is $18.11 and its 200 day moving average price is $24.14.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings results on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). Six Flags Entertainment had a positive return on equity of 9.64% and a negative net margin of 56.44%.The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $4.21 earnings per share. Six Flags Entertainment’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Six Flags Entertainment from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Stifel Nicolaus dropped their target price on Six Flags Entertainment from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target (down from $30.00) on shares of Six Flags Entertainment in a research note on Monday, November 10th. Capital One Financial set a $28.00 price target on Six Flags Entertainment in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.29.

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.