Healthcare of Ontario Pension Plan Trust Fund Buys New Position in Six Flags Entertainment Corporation $FUN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund opened a new position in Six Flags, buying 2.39 million shares worth about $36.7 million and taking a roughly 2.36% stake in the company.
• Six Flags has attracted mixed Wall Street views: UBS raised its price target to $30 and kept a buy rating, while other firms cut targets or downgraded the stock. The current consensus rating is Hold with an average price target of $25.15.
• The company’s latest quarter beat expectations, posting EPS of ($2.65) versus estimates of ($2.71) and revenue of $225.63 million versus $207.49 million expected. Insider buying also stood out, with executives and directors purchasing shares in recent months.

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,389,905 shares of the company's stock, valued at approximately $36,661,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 2.36% of Six Flags Entertainment as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FUN. CoreCap Advisors LLC boosted its stake in Six Flags Entertainment by 145.5% during the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company's stock valued at $25,000 after buying an additional 975 shares in the last quarter. Danske Bank A S acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Six Flags Entertainment in the 4th quarter valued at $28,000. Ameritas Advisory Services LLC purchased a new stake in Six Flags Entertainment in the 3rd quarter worth about $30,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 64.65% of the company's stock.

Analysts Set New Price Targets

FUN has been the subject of a number of recent research reports. UBS Group raised their price target on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday. Weiss Ratings downgraded Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, May 15th. Oppenheimer cut their price target on Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Citigroup raised their price target on Six Flags Entertainment from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded Six Flags Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $25.15.

Six Flags Entertainment Stock Down 0.1%

Shares of FUN stock opened at $23.42 on Tuesday. The stock's 50 day simple moving average is $20.04 and its 200 day simple moving average is $17.60. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. Six Flags Entertainment Corporation has a twelve month low of $12.51 and a twelve month high of $33.50. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -1.43 and a beta of 0.38.

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

Insider Buying and Selling

In other Six Flags Entertainment news, insider Richard M. Haddrill bought 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $19.08 per share, with a total value of $190,800.00. Following the acquisition, the insider directly owned 230,117 shares of the company's stock, valued at $4,390,632.36. This represents a 4.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Marilyn G. Spiegel bought 2,500 shares of the stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the acquisition, the director directly owned 15,161 shares in the company, valued at approximately $289,575.10. The trade was a 19.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 15,000 shares of company stock worth $286,350 over the last three months. 2.10% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.