Six Flags Entertainment (NYSE:FUN) Reaches New 12-Month Low on Analyst Downgrade

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price reached a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $49.00 to $40.00. UBS Group currently has a buy rating on the stock. Six Flags Entertainment traded as low as $27.90 and last traded at $28.15, with a volume of 379543 shares changing hands. The stock had previously closed at $28.71.

FUN has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group decreased their price objective on shares of Six Flags Entertainment from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Stifel Nicolaus lifted their target price on Six Flags Entertainment from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Barclays cut their price target on Six Flags Entertainment from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, July 11th. Finally, Citigroup lowered their price objective 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. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Insider Activity at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the sale, the director owned 7,162 shares in the company, valued at $271,368.18. This represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of large investors have recently bought and sold shares of the business. Peregrine Capital Management LLC raised its position in shares of Six Flags Entertainment by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company’s stock worth $4,691,000 after purchasing an additional 9,231 shares during the period. Balefire LLC grew its stake in Six Flags Entertainment by 73.7% during the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock worth $2,786,000 after buying an additional 38,832 shares during the last quarter. State of Alaska Department of Revenue increased its position 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 buying an additional 4,251 shares during the period. Wedge Capital Management L L P NC increased its position in Six Flags Entertainment by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after buying an additional 335 shares during the period. Finally, Veracity Capital LLC lifted its stake in Six Flags Entertainment by 20.0% in the second quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock valued at $769,000 after buying an additional 4,214 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Trading Up 2.8%

The firm’s fifty day moving average price is $32.60 and its 200-day moving average price is $37.50. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -10.09 and a beta of 0.76. 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 issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.29) by $0.09. The company had revenue of $202.06 million for the quarter, compared to analysts’ expectations of $235.51 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. On average, equities analysts expect that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

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.