Six Flags Entertainment (NYSE:FUN) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) hit a new 52-week low on Tuesday after Mizuho lowered their price target on the stock from $43.00 to $36.00. Mizuho currently has an outperform 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.

Several other brokerages also recently weighed in on FUN. Jefferies Financial Group dropped their target price on Six Flags Entertainment from $58.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price target on Six Flags Entertainment from $58.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Citigroup dropped their price target on Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, July 10th. Stifel Nicolaus boosted their price target on Six Flags Entertainment from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Truist Financial dropped their price target on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.13.

Insider Activity

In other news, Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.89, for a total value of $224,649.81. Following the completion of the transaction, the director owned 7,162 shares of the company's stock, valued at $271,368.18. The trade was a 45.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Six Flags Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock worth $55,000 after purchasing an additional 884 shares during the period. ORG Wealth Partners LLC raised its holdings in Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock worth $102,000 after purchasing an additional 1,002 shares during the period. Contravisory Investment Management Inc. raised its holdings in Six Flags Entertainment by 42.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock worth $175,000 after purchasing an additional 1,717 shares during the period. Castleview Partners LLC acquired a new position in Six Flags Entertainment in the 2nd quarter worth about $239,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 64.65% of the company's stock.

Six Flags Entertainment Stock Up 2.7%

The company has a market cap of $3.06 billion, a price-to-earnings ratio of -10.91 and a beta of 0.76. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 2.75. The business has a fifty day moving average of $32.50 and a two-hundred day moving average of $37.37.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly 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. The company had revenue of $202.06 million during the quarter, compared to analysts' expectations of $235.51 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The business's revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts anticipate that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal 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.