Citigroup Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target dropped by Citigroup from $42.00 to $37.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 17.98% from the company's current price.

A number of other equities research analysts also recently weighed in on FUN. UBS Group started coverage on Six Flags Entertainment in a report on Wednesday, April 9th. They set a "buy" rating and a $49.00 price objective on the stock. Truist Financial lowered their price target on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus upped their target price on shares of Six Flags Entertainment from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Mizuho upped their price objective on shares of Six Flags Entertainment from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group lowered their target price on Six Flags Entertainment from $58.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two equities 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. According to MarketBeat.com, Six Flags Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.87.

Six Flags Entertainment Stock Performance

Shares of FUN stock traded down $0.52 during trading on Thursday, reaching $31.36. The company had a trading volume of 1,833,361 shares, compared to its average volume of 1,727,844. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.28. The firm's 50 day simple moving average is $33.25 and its two-hundred day simple moving average is $38.19. The company has a market capitalization of $3.17 billion, a PE ratio of -11.28 and a beta of 0.76. Six Flags Entertainment has a one year low of $28.02 and a one year high of $56.08.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, topping analysts' consensus estimates of ($2.29) by $0.09. The company had revenue of $202.06 million during the quarter, compared to analyst estimates of $235.51 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. Six Flags Entertainment's revenue for the quarter was up 98.9% on a year-over-year basis. Sell-side analysts forecast that Six Flags Entertainment will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of the firm's stock in a transaction 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 sale, the director directly owned 7,162 shares in the company, valued at $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 SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after purchasing an additional 484 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in 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 period. Veracity Capital LLC grew its stake in shares of 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 acquiring an additional 4,214 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Six Flags Entertainment by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after buying an additional 9,231 shares in the last quarter. Finally, Balefire LLC lifted its stake in Six Flags Entertainment by 73.7% during the second quarter. Balefire LLC now owns 91,556 shares of the company's stock worth $2,786,000 after purchasing an additional 38,832 shares during the last quarter. 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.

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