Six Flags Entertainment (NYSE:FUN) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Six Flags Entertainment to “strong sell” from “strong buy,” while other analysts also reduced price targets. The overall consensus remains “Hold,” with an average price target of $21.93.
• Six Flags shares opened at $16.39, with a market capitalization of approximately $1.68 billion and a 52-week trading range of $12.51 to $27.37.
• Insiders have recently increased their holdings, purchasing 268,213 shares worth about $6.18 million over the past 90 days. Institutional investors own approximately 64.65% of the company.

Six Flags Entertainment (NYSE:FUN - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on FUN. The Goldman Sachs Group set a $15.00 price target on shares of Six Flags Entertainment in a research note on Friday, August 7th. Wall Street Zen lowered shares of Six Flags Entertainment from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Citizens Jmp decreased their price objective on shares of Six Flags Entertainment from $29.00 to $24.00 and set a "market outperform" rating for the company in a report on Friday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Guggenheim cut their target price on Six Flags Entertainment from $33.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Six Flags Entertainment presently has an average rating of "Hold" and a consensus price target of $21.93.

Six Flags Entertainment Trading Up 3.0%

NYSE:FUN opened at $16.39 on Tuesday. The company has a market capitalization of $1.68 billion, a P/E ratio of -0.95 and a beta of 0.40. The stock's 50 day moving average price is $19.96 and its 200 day moving average price is $18.84. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42. Six Flags Entertainment has a 52 week low of $12.51 and a 52 week high of $27.37.

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 on Monday, June 15th. The shares were bought at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the acquisition, the director owned 4,900,000 shares of the company's stock, valued at $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marilyn G. Spiegel bought 2,500 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the acquisition, the director owned 15,161 shares in the company, valued at $289,575.10. This represents a 19.75% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 268,213 shares of company stock valued at $6,183,515. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

A number of institutional investors have recently bought and sold shares of FUN. Atlas Wealth LLC acquired a new position in shares of Six Flags Entertainment in the 1st quarter valued at $26,000. Danske Bank A S acquired a new stake in shares of Six Flags Entertainment during the third quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Six Flags Entertainment during the fourth quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after purchasing an additional 722 shares during the period. Finally, Allworth Financial LP bought a new stake in Six Flags Entertainment in the second quarter valued at about $35,000. Institutional investors and hedge funds 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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