13D Management LLC Makes New $2.86 Million Investment in Six Flags Entertainment Corporation $FUN

Key Points

• 13D Management LLC opened a new stake in Six Flags Entertainment, buying 186,500 shares worth about $2.86 million. The position now represents roughly 3.4% of the fund’s portfolio.
• Six Flags reported quarterly earnings of ($2.65) per share, beating analyst expectations, and revenue of $225.63 million, also ahead of estimates. Analysts currently expect the company to post -0.28 EPS for the fiscal year.
• Recent activity has shown mixed sentiment: several institutional investors added to or initiated positions, and insiders also bought shares, while analysts’ views remain split with an overall Hold rating and average price target of $25.15.

13D Management LLC bought a new position in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 186,500 shares of the company's stock, valued at approximately $2,861,000. Six Flags Entertainment comprises about 3.4% of 13D Management LLC's portfolio, making the stock its 16th largest position. 13D Management LLC owned 0.18% of Six Flags Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FUN. CoreCap Advisors LLC lifted its holdings in Six Flags Entertainment by 145.5% in the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company's stock valued at $25,000 after buying an additional 975 shares during the period. Danske Bank A S acquired a new position in Six Flags Entertainment in the third quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in Six Flags Entertainment during the fourth quarter valued at approximately $28,000. Ameritas Advisory Services LLC acquired a new position in Six Flags Entertainment during the third quarter valued at approximately $30,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock valued at $30,000 after purchasing an additional 722 shares during the period. Institutional investors and hedge funds own 64.65% of the company's stock.

Six Flags Entertainment Stock Performance

Shares of FUN opened at $24.30 on Wednesday. Six Flags Entertainment Corporation has a 12 month low of $12.51 and a 12 month high of $33.50. The firm has a fifty day simple moving average of $20.19 and a 200 day simple moving average of $17.66. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -1.49 and a beta of 0.39. The company has a current ratio of 0.68, a quick ratio of 0.62 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) EPS for the quarter, topping the consensus estimate of ($2.71) by $0.06. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. The business had revenue of $225.63 million during the quarter, compared to analysts' expectations of $207.49 million. Research analysts forecast that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Richard M. Haddrill purchased 10,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the transaction, the insider owned 230,117 shares of the company's stock, valued at $4,390,632.36. The trade was a 4.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marilyn G. Spiegel purchased 2,500 shares of the company's stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the transaction, the director directly owned 15,161 shares of the company's stock, valued at approximately $289,575.10. This represents a 19.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 265,000 shares of company stock valued at $6,173,850. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FUN. Weiss Ratings cut shares of Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, May 15th. UBS Group upped their price target on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Guggenheim reduced their price target on shares of Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 13th. The Goldman Sachs Group upped their price target on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $18.00 price target on shares of Six Flags Entertainment in a report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $25.15.

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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