Six Flags Entertainment (NYSE:FUN) Trading Up 5.7% - Time to Buy?

Key Points

• Six Flags Entertainment shares rose 5.7% on Friday, trading as high as $19.59 after closing at $18.65 the previous day. Trading volume was well below average, with about 195,834 shares changing hands.
• Recent analyst updates were mixed but leaned cautiously positive: JPMorgan upgraded the stock to neutral, while Truist and Barclays kept buy/overweight views and raised price targets. The consensus rating remains Hold, with an average price target of $25.07.
• The company’s latest earnings topped expectations, posting a smaller-than-expected loss and higher-than-anticipated revenue. Insider buying has also been notable, including a director purchase of 125,000 shares, while institutional investors hold about 64.65% of the stock.

Shares of Six Flags Entertainment Corporation (NYSE:FUN - Get Free Report) were up 5.7% on Friday . The stock traded as high as $19.59 and last traded at $19.7040. Approximately 195,834 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,157,523 shares. The stock had previously closed at $18.65.

Analyst Upgrades and Downgrades

FUN has been the subject of several research reports. JPMorgan Chase & Co. upgraded Six Flags Entertainment from an "underweight" rating to a "neutral" rating and set a $26.00 price target for the company in a report on Friday, May 8th. Truist Financial boosted their price target on Six Flags Entertainment from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Oppenheimer lowered their price objective on Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Wall Street Zen raised shares of Six Flags Entertainment from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Barclays increased their price objective on Six Flags Entertainment from $22.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.07.

Six Flags Entertainment Stock Up 5.4%

The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -1.21 and a beta of 0.38. The business has a fifty day simple moving average of $21.09 and a two-hundred day simple moving average of $18.47. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.71) by $0.06. The business had revenue of $225.63 million during the quarter, compared to analysts' expectations of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. Equities analysts expect that Six Flags Entertainment Corporation will post -0.28 EPS for the current year.

Insider Buying and Selling at Six Flags Entertainment

In related news, Director Rehan Jaffer acquired 125,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the acquisition, the director owned 4,900,000 shares in the company, valued at $114,709,000. The trade was a 2.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard M. Haddrill bought 10,000 shares of Six Flags Entertainment stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $19.08 per share, for a total transaction of $190,800.00. Following the purchase, the insider directly owned 230,117 shares in the company, valued at $4,390,632.36. This represents a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 265,000 shares of company stock worth $6,173,850 over the last three months. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of hedge funds have recently made changes to their positions in FUN. Northwestern Mutual Wealth Management Co. boosted its position in Six Flags Entertainment by 259.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 722 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Six Flags Entertainment during the third quarter worth approximately $27,000. Atlas Wealth LLC acquired a new stake in shares of Six Flags Entertainment during the first quarter worth approximately $26,000. CoreCap Advisors LLC raised its stake in shares of Six Flags Entertainment by 145.5% in the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company's stock valued at $25,000 after acquiring an additional 975 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Six Flags Entertainment in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 64.65% of the company's stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.

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