1,034,288 Shares in Six Flags Entertainment Corporation $FUN Purchased by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management purchased 1,034,288 shares of Six Flags (about $23.5 million) in Q3, making the position roughly 1.1% of its portfolio and representing about 1.02% ownership of Six Flags.
• Six Flags reported Q earnings of ($0.91) EPS
• Institutional investors own about 64.65% of the stock, and analyst coverage is mixed (consensus rating: "Hold" with a $24.62 target) after several firms lowered price targets in recent months.

Invenomic Capital Management LP bought a new stake in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,034,288 shares of the company's stock, valued at approximately $23,499,000. Six Flags Entertainment makes up about 1.1% of Invenomic Capital Management LP's investment portfolio, making the stock its 24th largest position. Invenomic Capital Management LP owned about 1.02% of Six Flags Entertainment at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FUN. Alberta Investment Management Corp acquired a new position in Six Flags Entertainment in the 2nd quarter valued at $18,288,000. Envestnet Asset Management Inc. grew its holdings in Six Flags Entertainment by 56.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 61,081 shares of the company's stock valued at $1,859,000 after buying an additional 22,054 shares during the period. Geode Capital Management LLC increased its stake in shares of Six Flags Entertainment by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,208,815 shares of the company's stock valued at $67,222,000 after acquiring an additional 52,337 shares during the last quarter. Long Pond Capital LP lifted its holdings in shares of Six Flags Entertainment by 55.2% during the 2nd quarter. Long Pond Capital LP now owns 3,296,660 shares of the company's stock worth $100,317,000 after acquiring an additional 1,172,101 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of Six Flags Entertainment by 190.5% during the 3rd quarter. Quantbot Technologies LP now owns 230,120 shares of the company's stock worth $5,228,000 after acquiring an additional 150,913 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

Six Flags Entertainment Trading Up 2.7%

Shares of FUN stock opened at $16.00 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 9.40. Six Flags Entertainment Corporation has a fifty-two week low of $12.51 and a fifty-two week high of $39.21. The firm's 50 day moving average price is $16.82 and its two-hundred day moving average price is $18.37. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -1.01 and a beta of 0.36.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.60). The business had revenue of $650.09 million during the quarter, compared to analyst estimates of $602.68 million. Six Flags Entertainment had a positive return on equity of 3.77% and a negative net margin of 51.58%.Six Flags Entertainment's quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts anticipate that Six Flags Entertainment Corporation will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FUN. Jefferies Financial Group lowered their target price on shares of Six Flags Entertainment from $20.00 to $17.00 and set a "hold" rating for the company in a report on Tuesday, January 13th. Morgan Stanley set a $18.00 price target on shares of Six Flags Entertainment in a report on Friday, February 20th. Barclays reissued an "overweight" rating and set a $22.00 price objective on shares of Six Flags Entertainment in a research note on Monday, February 23rd. Citigroup lowered Six Flags Entertainment from a "buy" rating to a "neutral" rating and cut their target price for the stock from $25.00 to $20.00 in a research report on Thursday, February 5th. Finally, Guggenheim reduced their target price on Six Flags Entertainment from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Six Flags Entertainment presently has an average rating of "Hold" and a consensus target price of $24.62.

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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