UBS Group Has Lowered Expectations for Six Flags Entertainment (NYSE:FUN) Stock Price

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price target dropped by research analysts at UBS Group from $49.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 42.60% from the company's current price.

Several other brokerages have also recently issued reports on FUN. The Goldman Sachs Group decreased their price objective on 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. JPMorgan Chase & Co. decreased their price objective on Six Flags Entertainment from $46.00 to $28.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. Truist Financial decreased their target price on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho boosted their target price on Six Flags Entertainment from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Citigroup decreased their target price on Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.07.

Six Flags Entertainment Trading Up 2.8%

Shares of FUN traded up $0.77 during midday trading on Tuesday, reaching $28.05. The company had a trading volume of 1,343,910 shares, compared to its average volume of 1,721,031. The stock has a market cap of $2.84 billion, a PE ratio of -10.10 and a beta of 0.76. Six Flags Entertainment has a 1-year low of $27.10 and a 1-year high of $54.58. The firm has a 50 day simple moving average of $32.76 and a 200-day simple moving average of $37.56. 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 (NYSE:FUN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.29) by $0.09. The firm 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%. The firm's revenue for the quarter was up 98.9% on a year-over-year basis. Research analysts forecast that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Michelle M. Frymire sold 5,929 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $37.89, for a total value of $224,649.81. Following the sale, the director directly owned 7,162 shares in the company, valued at $271,368.18. This represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

Several large investors have recently added to or reduced their stakes in FUN. Balefire LLC lifted 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 buying an additional 38,832 shares during the period. Peregrine Capital Management LLC lifted its position in Six Flags Entertainment by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after buying an additional 9,231 shares during the period. Castleview Partners LLC purchased a new position in Six Flags Entertainment during the second quarter worth about $239,000. State of Alaska Department of Revenue lifted its position in Six Flags Entertainment by 8.2% during the second quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company's stock worth $1,701,000 after buying an additional 4,251 shares during the period. Finally, Veracity Capital LLC lifted its position in Six Flags Entertainment by 20.0% during the second quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock worth $769,000 after buying an additional 4,214 shares during the period. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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.