Broyhill Asset Management LLC Reduces Stake in Six Flags Entertainment Corporation $FUN

Key Points

• Broyhill Asset Management cut its Six Flags stake by 86.5% in the fourth quarter, leaving it with 11,642 shares worth about $179,000.
• Six Flags recently reported quarterly earnings of -$2.65 per share, beating estimates, and revenue of $225.63 million, also above analyst expectations.
• Insider buying picked up, with Richard M. Haddrill and Director Marilyn G. Spiegel purchasing shares; meanwhile, analysts currently rate the stock Hold on average with a consensus price target of $25.15.

Broyhill Asset Management LLC decreased its stake in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 86.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,642 shares of the company's stock after selling 74,773 shares during the period. Broyhill Asset Management LLC's holdings in Six Flags Entertainment were worth $179,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Six Flags Entertainment by 533.4% during the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after buying an additional 4,446,104 shares in the last quarter. JANA Partners Management LP bought a new position in Six Flags Entertainment during the 3rd quarter worth approximately $92,015,000. Quantbot Technologies LP grew its position in 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 last quarter. Channing Capital Management LLC grew its position in shares of Six Flags Entertainment by 75.2% in the 3rd quarter. Channing Capital Management LLC now owns 374,874 shares of the company's stock worth $8,517,000 after buying an additional 160,931 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of Six Flags Entertainment in the 3rd quarter worth approximately $23,499,000. Hedge funds and other institutional investors own 64.65% of the company's stock.

Six Flags Entertainment Stock Down 3.6%

FUN stock opened at $23.51 on Friday. The business's 50-day moving average is $19.91 and its two-hundred day moving average is $17.52. Six Flags Entertainment Corporation has a fifty-two week low of $12.51 and a fifty-two week high of $33.50. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -1.44 and a beta of 0.39.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $225.63 million during the quarter, compared to analyst estimates of $207.49 million. As a group, analysts forecast that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current year.

Insider Activity

In other Six Flags Entertainment news, insider Richard M. Haddrill acquired 10,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $19.08 per share, with a total value of $190,800.00. Following the completion of the purchase, the insider directly owned 230,117 shares in the company, valued at approximately $4,390,632.36. The trade was a 4.54% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marilyn G. Spiegel acquired 2,500 shares of the company'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 purchase, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 15,000 shares of company stock valued at $286,350 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FUN. Truist Financial lifted their price objective on Six Flags Entertainment from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. upgraded Six Flags Entertainment from an "underweight" rating to a "neutral" rating and set a $26.00 price objective on the stock in a research report on Friday, May 8th. Morgan Stanley set a $18.00 price objective on Six Flags Entertainment in a research report on Friday, February 20th. Weiss Ratings cut Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, May 15th. Finally, Guggenheim lowered their target price on Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Six Flags Entertainment has an average rating of "Hold" and a consensus price target of $25.15.

About Six Flags Entertainment

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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