Citigroup Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $37.00

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target reduced by research analysts at Citigroup from $42.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 24.08% from the stock's current price.

Several other analysts also recently issued reports on FUN. The Goldman Sachs Group cut their price objective on Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Mizuho boosted their price objective on Six Flags Entertainment from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen downgraded Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Stifel Nicolaus upped their target price on Six Flags Entertainment from $48.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley dropped their target price on Six Flags Entertainment from $58.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.67.

Six Flags Entertainment Price Performance

NYSE FUN traded down $1.53 on Thursday, reaching $29.82. The company's stock had a trading volume of 2,029,535 shares, compared to its average volume of 1,716,279. The firm's 50 day moving average is $33.06 and its two-hundred day moving average is $37.86. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.28 and a current ratio of 0.37. The stock has a market cap of $3.01 billion, a PE ratio of -10.73 and a beta of 0.76. Six Flags Entertainment has a twelve month low of $28.02 and a twelve month high of $54.58.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.29) by $0.09. The firm had revenue of $202.06 million for the quarter, compared to the consensus estimate 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 company's revenue was up 98.9% on a year-over-year basis. As a group, sell-side analysts predict that Six Flags Entertainment will post 0.83 EPS for the current year.

Insiders Place Their Bets

In related 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Six Flags Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC raised its position in Six Flags Entertainment by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company's stock valued at $1,198,000 after acquiring an additional 335 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in 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 acquiring an additional 484 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in Six Flags Entertainment by 42.5% during the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock worth $175,000 after purchasing an additional 1,717 shares during the period. Veracity Capital LLC boosted its position in Six Flags Entertainment by 20.0% during the second quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock worth $769,000 after purchasing an additional 4,214 shares during the period. Finally, Peregrine Capital Management LLC raised its position in shares of Six Flags Entertainment by 7.5% in the first 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 during the period. Institutional investors own 64.65% of the company's stock.

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.