Six Flags Entertainment (NYSE:FUN) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Six Flags' stock crossed above its 200-day moving average, trading as high as $19.59 and last at $18.8050 versus the 200-day MA of $17.43 on volume of about 1.78 million shares — a short-term technical bullish signal.
• Analyst views are mixed with a consensus "Hold" and average price target of $23.69, as Truist raised its target to $27 (buy) while firms like Citigroup and Oppenheimer trimmed their price objectives.
• The company reported an EPS miss — ($0.91) vs ($0.31) expected — though revenue of $650.09M beat estimates but fell 5.4% year-over-year, and the business shows high leverage (debt-to-equity 9.40) and a negative net margin of 51.58%.

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.43 and traded as high as $19.59. Six Flags Entertainment shares last traded at $18.8050, with a volume of 1,782,071 shares traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Six Flags Entertainment in a research report on Thursday, January 22nd. Citigroup downgraded shares of Six Flags Entertainment from a "buy" rating to a "neutral" rating and cut their price objective for the company from $25.00 to $20.00 in a research report on Thursday, February 5th. Oppenheimer reduced their price objective on shares of Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Finally, Guggenheim reduced their price objective on shares of Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.69.

Six Flags Entertainment Stock Performance

The firm has a market capitalization of $1.92 billion, a P/E ratio of -1.18 and a beta of 0.32. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 9.40. The business's 50 day simple moving average is $17.38 and its two-hundred day simple moving average is $17.43.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.60). The firm had revenue of $650.09 million for the quarter, compared to the consensus estimate of $602.68 million. Six Flags Entertainment had a negative net margin of 51.58% and a positive return on equity of 3.77%. The business's quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that Six Flags Entertainment Corporation will post -0.39 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

A number of institutional investors have recently made changes to their positions in FUN. UBS Group AG boosted its holdings in shares of Six Flags Entertainment by 533.4% during the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after acquiring an additional 4,446,104 shares during the last quarter. JANA Partners Management LP purchased a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at about $92,015,000. Rush Island Management LP purchased a new stake in shares of Six Flags Entertainment during the 2nd quarter valued at about $115,454,000. Morgan Stanley boosted its holdings in shares of Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock valued at $145,324,000 after acquiring an additional 3,629,445 shares during the last quarter. Finally, EdgePoint Investment Group Inc. purchased a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at about $70,764,000. Hedge funds and other institutional investors 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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