Six Flags Entertainment (NYSE:FUN) Stock Price Up 5% - Here's Why

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) shot up 5% during trading on Tuesday . The stock traded as high as $31.45 and last traded at $31.96. 205,040 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,763,581 shares. The stock had previously closed at $30.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FUN shares. JPMorgan Chase & Co. dropped their price objective on shares of Six Flags Entertainment from $46.00 to $28.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Truist Financial lowered their target price on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays set a $43.00 price target on Six Flags Entertainment and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Stifel Nicolaus boosted their price objective on Six Flags Entertainment from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen lowered Six Flags Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Two research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $49.20.

Six Flags Entertainment Stock Performance

The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -11.58 and a beta of 0.76. The company's 50 day simple moving average is $33.55 and its 200 day simple moving average is $38.62. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.28 and a current ratio of 0.37.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $235.51 million. Six Flags Entertainment's revenue for the quarter was up 98.9% compared to the same quarter last year. On average, equities research analysts anticipate that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $271,368.18. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A hedge fund recently raised its stake in Six Flags Entertainment stock. Peregrine Capital Management LLC boosted its holdings in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of Six Flags Entertainment worth $4,691,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

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.