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

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

FUN has been the subject of several other research reports. Mizuho lifted their price objective on Six Flags Entertainment from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Morgan Stanley dropped their price target on Six Flags Entertainment from $58.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Truist Financial cut their price objective on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group lowered their target price on shares of Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, UBS Group initiated coverage on shares of Six Flags Entertainment in a research note on Wednesday, April 9th. They issued a "buy" rating and a $49.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.20.

Six Flags Entertainment Price Performance

Shares of FUN traded down $0.01 during midday trading on Friday, hitting $30.48. 1,609,761 shares of the company traded hands, compared to its average volume of 1,747,712. Six Flags Entertainment has a one year low of $28.02 and a one year high of $58.70. The firm has a market cap of $3.08 billion, a P/E ratio of -10.96 and a beta of 0.79. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.28. The stock has a 50-day moving average of $33.95 and a 200-day moving average of $39.38.

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

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of Six Flags Entertainment stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the transaction, the director now directly owns 7,162 shares of the company's stock, valued at $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Six Flags Entertainment

A hedge fund recently raised its stake in Six Flags Entertainment stock. Peregrine Capital Management LLC boosted its stake in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,499 shares of the company's stock after acquiring an additional 9,231 shares during the period. Peregrine Capital Management LLC owned 0.13% of Six Flags Entertainment worth $4,691,000 at the end of the most recent reporting period. 64.65% of the stock is owned by institutional investors and hedge funds.

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.