Six Flags Entertainment (NYSE:FUN) Price Target Lowered to $29.00 at Guggenheim

Six Flags Entertainment (NYSE:FUN) had its price target trimmed by Guggenheim from $33.00 to $29.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Mizuho upped their target price on shares of Six Flags Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Oppenheimer reduced their target price on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Jefferies Financial Group cut their price objective on shares of Six Flags Entertainment from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, January 13th. Truist Financial increased their price objective on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Morgan Stanley set a $18.00 price objective on shares of Six Flags Entertainment in a report on Friday, February 20th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.69.

Six Flags Entertainment Price Performance

NYSE:FUN opened at $19.62 on Monday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -1.24 and a beta of 0.32. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 9.40. The company’s 50-day moving average is $17.22 and its two-hundred day moving average is $17.57. Six Flags Entertainment has a 12-month low of $12.51 and a 12-month high of $38.47.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, February 19th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.60). The firm had revenue of $650.09 million during the quarter, compared to analysts’ expectations of $602.68 million. Six Flags Entertainment had a negative net margin of 51.58% and a positive return on equity of 3.77%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts expect that Six Flags Entertainment will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Six Flags Entertainment by 0.5% in the third quarter. Vanguard Group Inc. now owns 10,067,759 shares of the company’s stock valued at $228,739,000 after acquiring an additional 53,111 shares in the last quarter. Morgan Stanley grew its position in shares of Six Flags Entertainment by 62.1% during the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after buying an additional 3,629,445 shares in the last quarter. Darlington Partners Capital Management LP grew its position in shares of Six Flags Entertainment by 20.2% during the second 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 in the last quarter. UBS Group AG grew its position in shares of Six Flags Entertainment by 533.4% during the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after buying an additional 4,446,104 shares in the last quarter. Finally, Dendur Capital LP grew its position in shares of Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock worth $75,987,000 after buying an additional 290,000 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.