Six Flags Entertainment (NYSE:FUN) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Six Flags Entertainment from “hold” to “sell,” adding to a mixed analyst picture that currently leaves the stock with a consensus “hold” rating and an average price target of $25.07.
• The company’s latest quarter beat expectations, with EPS of -$2.65 versus estimates of -$2.71 and revenue of $225.63 million versus $207.49 million expected.
• Insiders have been buying shares, including Director Rehan Jaffer’s 125,000-share purchase, while institutional investors still own about 64.65% of the stock.

Six Flags Entertainment (NYSE:FUN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday.

FUN has been the topic of several other research reports. Guggenheim reduced their price objective on Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Weiss Ratings cut Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, May 15th. UBS Group boosted their target price on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Barclays upped their price target on Six Flags Entertainment from $22.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Zacks Research cut Six Flags Entertainment from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.07.

Six Flags Entertainment Price Performance

FUN traded up $0.77 during midday trading on Friday, hitting $19.42. The company had a trading volume of 2,270,001 shares, compared to its average volume of 2,289,104. Six Flags Entertainment has a twelve month low of $12.51 and a twelve month high of $33.50. The company has a market capitalization of $1.99 billion, a PE ratio of -1.19 and a beta of 0.38. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. The firm's 50-day simple moving average is $21.12 and its 200-day simple moving average is $18.48.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.71) by $0.06. The company had revenue of $225.63 million for the quarter, compared to analyst estimates of $207.49 million. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. Equities research analysts predict that Six Flags Entertainment will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Rehan Jaffer acquired 125,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the purchase, the director directly owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard M. Haddrill acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was bought 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. The trade was a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 265,000 shares of company stock worth $6,173,850. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Six Flags Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 722 shares during the period. Danske Bank A S acquired a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at approximately $27,000. Atlas Wealth LLC acquired a new stake in shares of Six Flags Entertainment in the 1st quarter valued at approximately $26,000. CoreCap Advisors LLC boosted its stake in Six Flags Entertainment by 145.5% during the 4th quarter. CoreCap Advisors LLC now owns 1,645 shares of the company's stock worth $25,000 after acquiring an additional 975 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Six Flags Entertainment during the 4th quarter worth approximately $28,000. Institutional investors 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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