Six Flags Entertainment (NYSE:FUN) Trading Down 5.8% - What's Next?

Key Points

• Six Flags shares fell 5.8% to $15.28 in Monday trading, well below their 50-day and 200-day moving averages of $18.30 and $18.71, respectively. Trading volume was also 78% below the average session volume.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $21.93. Recent targets range from $10 at Mizuho to $28 at Truist Financial.
• Insiders have recently bought 265,713 shares worth approximately $6.1 million, while hedge funds and other institutions own 64.65% of the company. CEO John Reilly and Director Rehan Jaffer were among the buyers.

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) shares dropped 5.8% during trading on Monday . The stock traded as low as $15.26 and last traded at $15.28. 477,765 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,151,570 shares. The stock had previously closed at $16.22.

Analyst Ratings Changes

A number of research analysts have weighed in on FUN shares. Barclays reduced their target price on Six Flags Entertainment from $26.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Northcoast Research initiated coverage on Six Flags Entertainment in a research report on Wednesday, July 8th. They set a "neutral" rating on the stock. Mizuho set a $10.00 price objective on Six Flags Entertainment and gave the stock an "underperform" rating in a report on Friday, August 7th. Truist Financial raised their price objective on Six Flags Entertainment from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Finally, Stifel Nicolaus set a $23.00 target price on shares of Six Flags Entertainment in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $21.93.

Six Flags Entertainment Price Performance

The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. The company has a market cap of $1.56 billion, a PE ratio of -0.88 and a beta of 0.41. The firm has a 50 day moving average of $18.30 and a two-hundred day moving average of $18.71.

Insider Buying and Selling at Six Flags Entertainment

In other news, CEO John T. Reilly bought 15,713 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the acquisition, the chief executive officer owned 297,736 shares of the company's stock, valued at approximately $4,704,228.80. This represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rehan Jaffer bought 125,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the acquisition, the director directly owned 4,900,000 shares of the company's stock, valued at approximately $114,709,000. The trade was a 2.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 265,713 shares of company stock valued at $6,135,765 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of hedge funds have recently added to or reduced their stakes in FUN. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% in the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company's stock worth $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Six Flags Entertainment during the first quarter valued at $2,089,000. Havemeyer Place LP bought a new stake in Six Flags Entertainment during the fourth quarter valued at about $1,289,000. Knights of Columbus Asset Advisors LLC increased its position in Six Flags Entertainment by 106.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company's stock worth $1,968,000 after buying an additional 66,263 shares in the last quarter. Finally, ING Groep NV lifted its holdings in Six Flags Entertainment by 70.7% during the fourth quarter. ING Groep NV now owns 1,046,000 shares of the company's stock valued at $16,046,000 after purchasing an additional 433,100 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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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