Six Flags Entertainment (NYSE:FUN) Hits New 12-Month Low - What's Next?

Key Points

• Six Flags Entertainment's stock reached a new 12-month low, trading as low as $21.30 and last at $21.91, amidst analyst rating changes and reduced price targets.
• Analysts have varied opinions on the stock, with ten analysts rating it as a Buy, while the average target price is set at $36.36.
• The company's recent earnings report showed EPS of $0.26, missing estimates by a significant margin, and revealed a year-over-year revenue increase of 62.8%.

Shares of Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $21.30 and last traded at $21.91, with a volume of 346818 shares. The stock had previously closed at $21.66.

Analyst Ratings Changes

FUN has been the topic of a number of recent research reports. UBS Group decreased their price objective on Six Flags Entertainment from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Morgan Stanley decreased their price objective on Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wall Street Zen downgraded Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Guggenheim set a $43.00 price objective on Six Flags Entertainment and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus decreased their price objective on Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Ten investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.36.

Six Flags Entertainment Stock Up 1.3%

The business's fifty day simple moving average is $27.51 and its 200 day simple moving average is $32.36. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -4.52 and a beta of 0.72.

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). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The business had revenue of $930.39 million for the quarter, compared to analyst estimates of $999.82 million. The firm's revenue was up 62.8% on a year-over-year basis. Equities analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Six Flags Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in FUN. Peregrine Capital Management LLC grew its holdings in shares of Six Flags Entertainment by 7.5% in the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock valued at $4,691,000 after buying an additional 9,231 shares during the period. Veracity Capital LLC boosted its stake in Six Flags Entertainment by 20.0% in the 2nd quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock worth $769,000 after purchasing an additional 4,214 shares during the period. Balefire LLC boosted its stake in Six Flags Entertainment by 73.7% in the 2nd quarter. Balefire LLC now owns 91,556 shares of the company's stock worth $2,786,000 after purchasing an additional 38,832 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after purchasing an additional 484 shares during the period. Finally, Contravisory Investment Management Inc. boosted its stake in Six Flags Entertainment by 42.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock worth $175,000 after purchasing an additional 1,717 shares during the period. Institutional investors and hedge funds own 64.65% of the company's stock.

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.

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