Balefire LLC Buys 38,832 Shares of Six Flags Entertainment Corporation $FUN

Key Points

• Balefire LLC increased its stake in Six Flags Entertainment by 73.7%, now owning $2.79 million worth of the stock.
• Six Flags reported quarterly earnings with an EPS of $0.26, significantly below the expected $0.79, despite a 62.8% year-over-year revenue increase.
• Analyst ratings for Six Flags vary, with ten firms rating it as a "Buy" and price targets ranging from $23.00 to $40.00.

Balefire LLC raised its holdings in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 73.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,556 shares of the company's stock after purchasing an additional 38,832 shares during the quarter. Balefire LLC owned approximately 0.09% of Six Flags Entertainment worth $2,786,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Veracity Capital LLC lifted its holdings 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 worth $769,000 after buying an additional 4,214 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FUN shares. Stifel Nicolaus lowered their price target on shares of Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Citigroup decreased their price objective on shares of Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, July 10th. The Goldman Sachs Group decreased their price objective on shares of Six Flags Entertainment from $30.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Truist Financial cut shares of Six Flags Entertainment from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a research report on Wednesday, September 3rd. Finally, Oppenheimer decreased their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Six Flags Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $36.36.

Six Flags Entertainment Trading Down 1.7%

Shares of Six Flags Entertainment stock traded down $0.39 on Thursday, hitting $22.80. The stock had a trading volume of 2,010,933 shares, compared to its average volume of 3,580,483. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97. Six Flags Entertainment Corporation has a one year low of $21.30 and a one year high of $49.77. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -4.70 and a beta of 0.72. The stock's 50-day simple moving average is $26.50 and its two-hundred day simple moving average is $31.46.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.53). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The firm had revenue of $930.39 million during the quarter, compared to the consensus estimate of $999.82 million. The business's revenue for the quarter was up 62.8% compared to the same quarter last year. As a group, sell-side analysts predict that Six Flags Entertainment Corporation will post 0.83 EPS for the current year.

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.