Six Flags Entertainment (NYSE:FUN) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• Six Flags Entertainment received a "sell (d)" rating from Weiss Ratings, with several other analysts also adjusting their target prices significantly downward.
• The company missed earnings expectations for the last quarter with an EPS of $0.26, compared to the consensus estimate of $0.79, and reported revenue of $930.39 million.
• Institutional investors own 64.65% of Six Flags' stock, with notable increases in stakes by firms such as Darlington Partners Capital Management and Dendur Capital.

Six Flags Entertainment (NYSE:FUN - Get Free Report)'s stock had its "sell (d)" rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on FUN. JPMorgan Chase & Co. cut their target price on Six Flags Entertainment from $33.00 to $24.00 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Oppenheimer cut their target price on Six Flags Entertainment from $60.00 to $40.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Stifel Nicolaus cut their target price on Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Morgan Stanley cut their target price on Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Jefferies Financial Group cut Six Flags Entertainment from a "buy" rating to a "hold" rating and cut their target price for the company from $41.00 to $25.00 in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.21.

Six Flags Entertainment Trading Up 2.0%

Shares of NYSE FUN opened at $21.72 on Wednesday. The business's 50 day moving average is $24.24 and its two-hundred day moving average is $30.00. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. Six Flags Entertainment has a 1-year low of $20.79 and a 1-year high of $49.77. The stock has a market capitalization of $2.20 billion, a P/E ratio of -4.48 and a beta of 0.71.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.53). The business had revenue of $930.39 million for 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 firm's revenue for the quarter was up 62.8% compared to the same quarter last year. As a group, research analysts expect that Six Flags Entertainment will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Darlington Partners Capital Management LP grew its stake in 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 worth $264,741,000 after purchasing an additional 1,460,000 shares in the last quarter. Dendur Capital LP lifted its holdings in Six Flags Entertainment by 41.1% during the second quarter. Dendur Capital LP now owns 4,433,500 shares of the company's stock worth $134,911,000 after buying an additional 1,292,500 shares during the period. Rush Island Management LP purchased a new stake in Six Flags Entertainment during the second quarter worth $115,454,000. State Street Corp lifted its holdings in Six Flags Entertainment by 0.8% during the second quarter. State Street Corp now owns 3,465,487 shares of the company's stock worth $105,455,000 after buying an additional 27,848 shares during the period. Finally, Long Pond Capital LP lifted its holdings in Six Flags Entertainment by 55.2% during the second quarter. Long Pond Capital LP now owns 3,296,660 shares of the company's stock worth $100,317,000 after buying an additional 1,172,101 shares during the period. Institutional investors own 64.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.