Six Flags Entertainment Corporation $FUN Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Six Flags Entertainment Corporation by 23.1%, selling 184,811 shares and now holds 615,440 shares valued at approximately $21.95 million.
• Institutional investors own 64.65% of Six Flags Entertainment, indicating strong interest from larger financial entities.
• Recent analyst ratings revealed a consensus of "Moderate Buy" with a price target averaging $36.36, despite some firms like Citigroup and UBS lowering their price targets for the stock.

Goldman Sachs Group Inc. lowered its holdings in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 615,440 shares of the company's stock after selling 184,811 shares during the period. Goldman Sachs Group Inc. owned approximately 0.61% of Six Flags Entertainment worth $21,953,000 as of its most recent SEC filing.

Separately, Peregrine Capital Management LLC grew its holdings in Six Flags Entertainment by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock valued at $4,691,000 after purchasing an additional 9,231 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Morgan Stanley lowered their price target on shares of Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating for the company in a report on Monday, August 4th. UBS Group lowered their price target on shares of Six Flags Entertainment from $40.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. Mizuho reduced 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 note on Thursday, August 7th. Finally, Truist Financial downgraded 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 note on Wednesday, September 3rd. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.36.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock traded down $0.08 during trading hours on Friday, reaching $22.74. The company's stock had a trading volume of 1,625,424 shares, compared to its average volume of 2,474,142. The company's 50 day simple moving average is $26.50 and its 200 day simple moving average is $31.46. 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 one year low of $21.30 and a one year high of $49.77. The stock has a market cap of $2.30 billion, a P/E ratio of -4.69 and a beta of 0.72.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 net margin of 14.92% and a negative return on equity of 1.00%. The company's revenue was up 62.8% on a year-over-year basis. As a group, analysts expect that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal 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.