Catalyst Capital Advisors LLC Makes New Investment in Six Flags Entertainment Corporation $FUN

Key Points

• Catalyst Capital Advisors LLC has made a new investment in Six Flags Entertainment Corporation, acquiring 21,549 shares valued at approximately $656,000 during the 2nd quarter.
• Analysts have recently downgraded Six Flags' stock price targets, with Mizuho reducing their target from $36 to $30 and Stifel Nicolaus lowering theirs from $50 to $43, yet nine analysts still rate it as a "Buy."
• Six Flags reported a loss in earnings per share (EPS) of $0.26, missing the consensus estimate of $0.79, while their quarterly revenue was $930.39 million, significantly below the expectation of $999.82 million.

Catalyst Capital Advisors LLC bought a new position in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,549 shares of the company's stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also bought and sold shares of FUN. Peregrine Capital Management LLC lifted its stake in Six Flags Entertainment by 7.5% in the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after purchasing an additional 9,231 shares in the last quarter. Veracity Capital LLC lifted its stake in Six Flags Entertainment by 20.0% in the 2nd quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock worth $769,000 after purchasing an additional 4,214 shares in the last quarter. Balefire LLC lifted its stake in Six Flags Entertainment by 73.7% in the 2nd quarter. Balefire LLC now owns 91,556 shares of the company's stock worth $2,786,000 after purchasing an additional 38,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after purchasing an additional 484 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in shares of Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after buying an additional 1,717 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FUN shares. Mizuho lowered their price objective on shares of Six Flags Entertainment from $36.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Stifel Nicolaus lowered their price objective on shares of Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Weiss Ratings restated a "sell (d)" rating on shares of Six Flags Entertainment in a research report on Wednesday, October 8th. 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, Guggenheim set a $43.00 price objective on shares of Six Flags Entertainment and gave the company a "buy" rating in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.21.

Six Flags Entertainment Price Performance

FUN stock opened at $25.67 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.42 and a current ratio of 0.52. Six Flags Entertainment Corporation has a 52 week low of $20.00 and a 52 week high of $49.77. The firm's fifty day moving average is $23.14 and its 200 day moving average is $28.97. The firm has a market cap of $2.60 billion, a P/E ratio of -5.29 and a beta of 0.71.

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

Six Flags Entertainment Company Profile

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.

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