Citizens Jmp Begins Coverage on Six Flags Entertainment (NYSE:FUN)

Key Points

• Citizens JMP initiated coverage on Six Flags Entertainment with a “market outperform” rating and a $29 price target, implying about 32% upside from the current share price.
• Analyst sentiment remains mixed but generally positive, with 9 Buy, 5 Hold, and 1 Sell ratings; the consensus target is $25.43.
• Six Flags recently beat earnings and revenue expectations for the quarter, while insider buying picked up, including notable purchases by directors Marilyn G. Spiegel and Rehan Jaffer.

Investment analysts at Citizens Jmp started coverage on shares of Six Flags Entertainment (NYSE:FUN - Get Free Report) in a report issued on Monday,Benzinga reports. The brokerage set a "market outperform" rating and a $29.00 price target on the stock. Citizens Jmp's price objective indicates a potential upside of 32.43% from the stock's current price.

A number of other analysts also recently issued reports on FUN. Oppenheimer cut their price target on shares of Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Guggenheim decreased their price target on Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Barclays increased their price target on Six Flags Entertainment from $22.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Zacks Research lowered shares of Six Flags Entertainment from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Finally, Truist Financial boosted their target price on Six Flags Entertainment from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.43.

Six Flags Entertainment Price Performance

Shares of NYSE FUN opened at $21.90 on Monday. The firm has a market cap of $2.24 billion, a P/E ratio of -1.34 and a beta of 0.38. Six Flags Entertainment has a 52 week low of $12.51 and a 52 week high of $33.50. The business's 50 day moving average price is $20.90 and its 200 day moving average price is $18.14. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.71) by $0.06. The firm had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. On average, sell-side analysts expect that Six Flags Entertainment will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Marilyn G. Spiegel acquired 2,500 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $19.10 per share, with a total value of $47,750.00. Following the transaction, the director owned 15,161 shares in the company, valued at approximately $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Rehan Jaffer bought 125,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the purchase, the director owned 4,900,000 shares of the company's stock, valued at approximately $114,709,000. This represents a 2.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 265,000 shares of company stock worth $6,173,850 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after purchasing an additional 4,446,104 shares during the last quarter. JANA Partners Management LP acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $92,015,000. Invenomic Capital Management LP acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $23,499,000. Interval Partners LP grew its position in shares of Six Flags Entertainment by 76.0% in the 3rd quarter. Interval Partners LP now owns 388,188 shares of the company's stock valued at $8,820,000 after buying an additional 167,643 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Six Flags Entertainment by 106.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company's stock worth $1,968,000 after acquiring an additional 66,263 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

Six Flags Entertainment Company Profile

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.

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