Six Flags Entertainment (NYSE:FUN) Given New $40.00 Price Target at Barclays

Six Flags Entertainment (NYSE:FUN - Free Report) had its price target lowered by Barclays from $43.00 to $40.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on FUN. Mizuho boosted their target price on Six Flags Entertainment from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Truist Financial lowered their price objective on shares of Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Citigroup dropped their price objective on shares of Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday. The Goldman Sachs Group reduced their target price on shares of Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, UBS Group assumed coverage on shares of Six Flags Entertainment in a report on Wednesday, April 9th. They issued a "buy" rating and a $49.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Six Flags Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $47.67.

Six Flags Entertainment Stock Performance

FUN traded down $0.95 on Friday, reaching $28.77. The company had a trading volume of 2,886,143 shares, compared to its average volume of 1,720,959. The stock has a 50-day moving average price of $33.06 and a 200-day moving average price of $37.78. The stock has a market capitalization of $2.91 billion, a PE ratio of -10.35 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. Six Flags Entertainment has a 1 year low of $28.02 and a 1 year high of $54.58.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) EPS for the quarter, beating analysts' consensus estimates of ($2.29) by $0.09. The company had revenue of $202.06 million for the quarter, compared to analyst estimates of $235.51 million. Six Flags Entertainment had a negative net margin of 11.30% and a positive return on equity of 0.66%. Six Flags Entertainment's quarterly revenue was up 98.9% on a year-over-year basis. As a group, research analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michelle M. Frymire sold 5,929 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the completion of the sale, the director directly owned 7,162 shares in the company, valued at approximately $271,368.18. This trade represents a 45.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Balefire LLC boosted its position in Six Flags Entertainment by 73.7% during the second quarter. Balefire LLC now owns 91,556 shares of the company's stock worth $2,786,000 after purchasing an additional 38,832 shares in the last quarter. Peregrine Capital Management LLC raised its position in shares of Six Flags Entertainment by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after purchasing an additional 9,231 shares during the last quarter. Veracity Capital LLC lifted 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 valued at $769,000 after buying an additional 4,214 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after buying an additional 1,717 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Six Flags Entertainment by 96.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock valued at $55,000 after buying an additional 884 shares during the last quarter. 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.