Six Flags Entertainment (NYSE:FUN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Six Flags Entertainment from “strong sell” to “sell”, even though the broader analyst view remains more positive overall.
• The stock currently has a Moderate Buy consensus with an average price target of $24.85; recent analyst moves included upgrades from JPMorgan and price target changes from Guggenheim, Citigroup, Mizuho, and Oppenheimer.
• Six Flags reported better-than-expected quarterly results, with EPS of -$2.65 versus estimates of -$2.71 and revenue of $225.63 million beating forecasts. Insider buying was also notable, with directors and executives purchasing shares in mid-May.

Six Flags Entertainment (NYSE:FUN - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an "underweight" rating to a "neutral" rating and set a $26.00 price target for the company in a research note on Friday, May 8th. Guggenheim decreased their price target on shares of Six Flags Entertainment from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Citigroup raised their price target on shares of Six Flags Entertainment from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Mizuho raised their price target on shares of Six Flags Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Finally, Oppenheimer decreased their price target on shares of Six Flags Entertainment from $40.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.85.

Six Flags Entertainment Stock Performance

Shares of FUN opened at $21.27 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.30 and a beta of 0.35. The stock has a 50 day moving average of $18.24 and a 200 day moving average of $17.15. Six Flags Entertainment has a 12 month low of $12.51 and a 12 month high of $38.27.

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

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, Director Marilyn G. Spiegel acquired 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $19.12 per share, with a total value of $47,800.00. Following the acquisition, the director owned 12,661 shares in the company, valued at approximately $242,078.32. This represents a 24.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard M. Haddrill acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the acquisition, the insider owned 230,117 shares in the company, valued at $4,390,632.36. This trade represents a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Six Flags Entertainment by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,067,759 shares of the company's stock worth $228,739,000 after buying an additional 53,111 shares during the period. Morgan Stanley boosted its holdings in Six Flags Entertainment by 62.1% in the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock valued at $145,324,000 after purchasing an additional 3,629,445 shares during the period. Darlington Partners Capital Management LP boosted its holdings in Six Flags Entertainment by 20.2% in the 2nd quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company's stock valued at $264,741,000 after purchasing an additional 1,460,000 shares during the period. UBS Group AG boosted its holdings in Six Flags Entertainment by 533.4% in the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after purchasing an additional 4,446,104 shares during the period. Finally, Dendur Capital LP boosted its holdings in Six Flags Entertainment by 6.2% in the 4th quarter. Dendur Capital LP now owns 4,953,500 shares of the company's stock valued at $75,987,000 after purchasing an additional 290,000 shares during the period. 64.65% of the stock is owned by institutional investors.

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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