Six Flags Entertainment (NYSE:FUN) Trading Up 5% - Here's What Happened

Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) shot up 5% during mid-day trading on Tuesday . The company traded as high as $31.45 and last traded at $31.96. 205,040 shares changed hands during 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 analysts have commented on FUN shares. The Goldman Sachs Group reduced their price objective on Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Macquarie restated an "outperform" rating and set a $55.00 price target on shares of Six Flags Entertainment in a research note on Friday, March 7th. Truist Financial lowered their price objective on shares of Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays set a $43.00 price objective on shares of Six Flags Entertainment and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Mizuho raised their target price on shares of Six Flags Entertainment from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Six Flags Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.20.

Six Flags Entertainment Stock Performance

The stock's 50-day moving average price is $33.74 and its 200-day moving average price is $38.82. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -11.43 and a beta of 0.79. 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 released its quarterly earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.29) by $0.09. The business had revenue of $202.06 million during the quarter, compared to the consensus estimate of $235.51 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The business's revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities research analysts expect that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Insider Activity

In other news, Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction that occurred 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 in the company, valued at $271,368.18. This represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Six Flags Entertainment stock. Peregrine Capital Management LLC grew its stake in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,499 shares of the company's stock after buying an additional 9,231 shares during the period. Peregrine Capital Management LLC owned 0.13% of Six Flags Entertainment worth $4,691,000 at the end of the most recent reporting period. 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.

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