Six Flags Entertainment (NYSE:FUN) Hits New 12-Month Low Following Analyst Downgrade

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $50.00 to $43.00. Stifel Nicolaus currently has a buy rating on the stock. Six Flags Entertainment traded as low as $27.90 and last traded at $28.15, with a volume of 379543 shares traded. The stock had previously closed at $28.71.

A number of other equities analysts have also weighed in on the stock. Mizuho decreased their price target on shares of Six Flags Entertainment from $43.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday. UBS Group decreased their price target on shares of Six Flags Entertainment from $49.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday. Wall Street Zen lowered shares of Six Flags Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Truist Financial reduced their target price on shares of 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. Finally, Jefferies Financial Group reduced their target price on shares of Six Flags Entertainment from $58.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.67.

Insider Activity at Six Flags Entertainment

In related news, Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 7,162 shares in the company, valued at $271,368.18. The trade was a 45.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Institutional Trading of Six Flags Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC lifted its position in shares of Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company's stock valued at $1,198,000 after acquiring an additional 335 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Six Flags Entertainment by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock valued at $287,000 after purchasing an additional 484 shares in the last quarter. GAMMA Investing LLC grew its position in Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock valued at $55,000 after purchasing an additional 884 shares in the last quarter. ORG Wealth Partners LLC grew its position in Six Flags Entertainment by 45.8% during the second quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock valued at $102,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its position in Six Flags Entertainment by 42.5% during the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after purchasing an additional 1,717 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

Six Flags Entertainment Price Performance

The stock's 50-day moving average is $32.39 and its 200 day moving average is $37.25. The stock has a market capitalization of $3.11 billion, a PE ratio of -11.06 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 (NYSE:FUN - Get Free Report) last announced 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. Six Flags Entertainment had a negative net margin of 11.30% and a positive return on equity of 0.66%. The firm had revenue of $202.06 million for the quarter, compared to the consensus estimate of $235.51 million. Six Flags Entertainment's revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

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.