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

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report)'s share price was down 4.4% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $42.00 to $37.00. Citigroup currently has a buy rating on the stock. Six Flags Entertainment traded as low as $30.27 and last traded at $29.97. Approximately 343,017 shares changed hands during trading, a decline of 82% from the average daily volume of 1,854,837 shares. The stock had previously closed at $31.35.

FUN has been the subject of a number of other research reports. Jefferies Financial Group cut 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 report on Thursday, April 10th. Wall Street Zen cut Six Flags Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Mizuho upped their price objective on Six Flags Entertainment from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Morgan Stanley cut their price target on shares of Six Flags Entertainment from $58.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Truist Financial decreased their target price on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two 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. Based on data from MarketBeat, Six Flags Entertainment currently has an average rating of "Moderate Buy" and an average price target of $47.87.

Insider Buying and Selling

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.89, for a total transaction of $224,649.81. Following the sale, the director directly owned 7,162 shares of the company's stock, valued at approximately $271,368.18. This represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 buying an additional 484 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after acquiring an additional 1,717 shares in the last quarter. Veracity Capital LLC raised its stake in Six Flags Entertainment by 20.0% during the 2nd quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock valued at $769,000 after acquiring an additional 4,214 shares in the last quarter. Peregrine Capital Management LLC boosted its position in Six Flags Entertainment by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after acquiring an additional 9,231 shares during the period. Finally, Balefire LLC grew its stake in shares of Six Flags Entertainment by 73.7% in the second quarter. Balefire LLC now owns 91,556 shares of the company's stock worth $2,786,000 after purchasing an additional 38,832 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

Six Flags Entertainment Price Performance

The business has a fifty day moving average price of $33.18 and a 200 day moving average price of $38.07. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -10.78 and a beta of 0.76.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.29) by $0.09. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The firm had revenue of $202.06 million during the quarter, compared to analyst estimates of $235.51 million. The firm's revenue was up 98.9% on a year-over-year basis. On average, research analysts expect that Six Flags Entertainment Corporation will post 0.83 earnings per share 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.

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