Six Flags Entertainment (NYSE:FUN) Shares Down 4.4% After Analyst Downgrade

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report)'s stock price fell 4.4% on Friday after Barclays lowered their price target on the stock from $43.00 to $40.00. Barclays currently has an overweight rating on the stock. Six Flags Entertainment traded as low as $30.27 and last traded at $29.97. 343,017 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,854,837 shares. The stock had previously closed at $31.35.

Other equities research analysts also recently issued reports about the stock. Citigroup lowered their target price on shares of Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday. Wall Street Zen lowered Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Morgan Stanley dropped their target price 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. UBS Group initiated coverage on Six Flags Entertainment in a research report on Wednesday, April 9th. They set a "buy" rating and a $49.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target on Six Flags Entertainment from $58.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.67.

Insider Transactions at Six Flags Entertainment

In other news, Director Michelle M. Frymire sold 5,929 shares of the company's 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 sale, the director directly owned 7,162 shares of the company's stock, valued at $271,368.18. This represents a 45.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Peregrine Capital Management LLC boosted its holdings in Six Flags Entertainment by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock valued at $4,691,000 after purchasing an additional 9,231 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 valued at $287,000 after buying an additional 484 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock valued at $55,000 after buying an additional 884 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Six Flags Entertainment by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company's stock worth $1,198,000 after buying an additional 335 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its holdings 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 worth $175,000 after acquiring an additional 1,717 shares during the period. Hedge funds and other institutional investors own 64.65% of the company's stock.

Six Flags Entertainment Stock Performance

The firm has a 50-day moving average of $33.06 and a two-hundred day moving average of $37.78. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $2.91 billion, a PE ratio of -10.35 and a beta of 0.76.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) EPS 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 analysts' expectations of $235.51 million. The business's revenue was up 98.9% compared to the same quarter last year. Research analysts anticipate that Six Flags Entertainment Corporation will post 0.83 EPS 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.