JPMorgan Chase & Co. Lowers Six Flags Entertainment (NYSE:FUN) Price Target to $22.00

Key Points

• JPMorgan lowered Six Flags Entertainment’s price target from $26 to $22 while maintaining a “neutral” rating, implying roughly 36% upside from the reported $16.16 share price.
• Analyst views remain mixed, with a consensus “Hold” rating and average target price of $21.93; recent targets range from $23 to $30, alongside both buy and sell recommendations.
• Insiders bought 252,500 shares worth approximately $5.94 million over the past 90 days, while institutional investors and hedge funds own 64.65% of the company.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $26.00 to $22.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 36.18% from the company's current price.

Several other equities research analysts have also recently weighed in on FUN. Oppenheimer cut their target price on Six Flags Entertainment from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday. Northcoast Research assumed coverage on Six Flags Entertainment in a research note on Wednesday, July 8th. They issued a "neutral" rating on the stock. Guggenheim dropped their price objective on Six Flags Entertainment from $33.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Zacks Research raised Six Flags Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Finally, UBS Group lifted their target price on Six Flags Entertainment from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.93.

Six Flags Entertainment Price Performance

Shares of Six Flags Entertainment stock traded up $0.30 on Tuesday, reaching $16.16. 302,869 shares of the stock were exchanged, compared to its average volume of 2,199,893. The firm's 50 day moving average is $20.13 and its 200-day moving average is $18.86. Six Flags Entertainment has a one year low of $12.51 and a one year high of $27.37. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a market cap of $1.65 billion, a PE ratio of -0.93 and a beta of 0.41.

Insider Activity

In other news, Director Marilyn G. Spiegel acquired 2,500 shares of the stock in a transaction dated Thursday, May 21st. The stock was bought 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 $289,575.10. This represents a 19.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rehan Jaffer acquired 125,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares in the company, valued at $114,709,000. The trade was a 2.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 252,500 shares of company stock worth $5,935,250. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of hedge funds have recently modified their holdings of FUN. BlackRock Inc. bought a new position in Six Flags Entertainment during the 2nd quarter worth $339,057,000. Morgan Stanley grew its position 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 last quarter. Darlington Partners Capital Management LP increased its stake in shares of Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company's stock valued at $264,741,000 after buying an additional 1,460,000 shares during the period. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% in the fourth 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 during the period. Finally, Dendur Capital LP raised its position in shares of Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company's stock worth $75,987,000 after acquiring an additional 290,000 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company's stock.

Six Flags Entertainment Company 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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