Barnett & Company Inc. Grows Stock Holdings in Six Flags Entertainment Corporation $FUN

Key Points

• Barnett & Company Inc. increased its Six Flags Entertainment stake by 203.3% in the first quarter, ending with 80,478 shares worth about $1.43 million.
• Institutional buying appears broad-based, with firms like Morgan Stanley, UBS Group, and Darlington Partners also raising holdings; institutional investors own 64.65% of Six Flags stock.
• Six Flags shares rose 4.1% to $19.42, while the company posted quarterly EPS of ($2.65), beating expectations and generating revenue of $225.63 million versus estimates of $207.49 million.

Barnett & Company Inc. lifted its holdings in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 203.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,478 shares of the company's stock after acquiring an additional 53,946 shares during the quarter. Barnett & Company Inc. owned 0.08% of Six Flags Entertainment worth $1,428,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FUN. Morgan Stanley lifted its holdings in shares of Six Flags Entertainment by 62.1% in the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock valued at $145,324,000 after buying an additional 3,629,445 shares during the period. Darlington Partners Capital Management LP grew its holdings in Six Flags Entertainment by 20.2% during the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company's stock worth $264,741,000 after acquiring an additional 1,460,000 shares during the period. UBS Group AG raised its position in Six Flags Entertainment by 533.4% during the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after acquiring an additional 4,446,104 shares in the last quarter. Dendur Capital LP raised its position in Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company's stock valued at $75,987,000 after acquiring an additional 290,000 shares in the last quarter. Finally, JANA Partners Management LP acquired a new position in Six Flags Entertainment in the third quarter valued at approximately $92,015,000. Hedge funds and other institutional investors own 64.65% of the company's stock.

Insiders Place Their Bets

In related news, Director Marilyn G. Spiegel bought 2,500 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director directly owned 15,161 shares of the company's stock, valued at approximately $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard M. Haddrill purchased 10,000 shares of Six Flags Entertainment stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $19.08 per share, with a total value of $190,800.00. Following the transaction, the insider owned 230,117 shares in the company, valued at approximately $4,390,632.36. The trade was a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 265,000 shares of company stock worth $6,173,850. Company insiders own 2.10% of the company's stock.

Six Flags Entertainment Stock Up 4.1%

Six Flags Entertainment stock opened at $19.42 on Friday. The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62. The stock has a market capitalization of $1.99 billion, a PE ratio of -1.19 and a beta of 0.38. The business has a 50 day simple moving average of $21.12 and a 200-day simple moving average of $18.48. Six Flags Entertainment Corporation has a 12 month low of $12.51 and a 12 month high of $33.50.

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. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%.The firm had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. On average, analysts anticipate that Six Flags Entertainment Corporation will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup lowered their price objective on Six Flags Entertainment from $24.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday. Citizens Jmp began coverage on shares of Six Flags Entertainment in a report on Monday, June 29th. They set a "market outperform" rating and a $29.00 target price for the company. Barclays boosted their target price on shares of Six Flags Entertainment from $22.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Guggenheim lowered their price target on shares of Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Finally, Weiss Ratings lowered shares of Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Six Flags Entertainment presently has an average rating of "Hold" and a consensus price target of $25.07.

Six Flags Entertainment 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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