Six Flags Entertainment (NYSE:FUN) Stock Price Up 21% - Here's Why

Key Points

• Six Flags Entertainment shares surged 21% on Tuesday, reaching a high of $26.34, with trading volume increasing by 208% compared to the average.
• Recent analyst reports show a mix of ratings, with Mizuho downgrading their price target to $30.00 while Goldman Sachs set a lower target of $23.00, contributing to a consensus target price of $34.21.
• The company reported a quarterly earnings miss with $0.26 earnings per share, significantly below the expected $0.79, although revenues increased by 62.8% year-over-year.

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) shares shot up 21% on Tuesday . The company traded as high as $25.26 and last traded at $26.34. 8,062,877 shares changed hands during mid-day trading, an increase of 208% from the average session volume of 2,620,025 shares. The stock had previously closed at $21.77.

Analysts Set New Price Targets

FUN has been the topic of a number of research analyst reports. Mizuho lowered their price objective on shares of Six Flags Entertainment from $36.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Six Flags Entertainment in a report on Wednesday, October 8th. The Goldman Sachs Group lowered their target price on Six Flags Entertainment from $30.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Oppenheimer cut their price target on Six Flags Entertainment from $60.00 to $40.00 and set an "outperform" rating for the company in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on Six Flags Entertainment from $33.00 to $24.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.21.

Six Flags Entertainment Trading Up 18.5%

The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -5.43 and a beta of 0.71. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The company has a fifty day moving average of $23.21 and a two-hundred day moving average of $29.08.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The firm had revenue of $930.39 million during the quarter, compared to analyst estimates of $999.82 million. The business's revenue for the quarter was up 62.8% compared to the same quarter last year. On average, research analysts expect that Six Flags Entertainment Corporation will post 0.83 EPS for the current year.

Institutional Trading of Six Flags Entertainment

Hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel increased its stake in Six Flags Entertainment by 114.8% during the second quarter. Aurora Investment Counsel now owns 33,674 shares of the company's stock valued at $1,025,000 after acquiring an additional 17,995 shares during the period. Balefire LLC raised 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 valued at $2,786,000 after acquiring an additional 38,832 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Six Flags Entertainment by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock worth $4,691,000 after purchasing an additional 9,231 shares during the last quarter. Trust Co. of Toledo NA OH raised its stake in shares of Six Flags Entertainment by 9.2% in the second quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company's stock worth $217,000 after acquiring an additional 600 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Six Flags Entertainment by 8.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 55,925 shares of the company's stock worth $1,701,000 after purchasing an additional 4,251 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

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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