Six Flags Entertainment (NYSE:FUN) Stock Price Up 8% – Here’s Why

Six Flags Entertainment Corporation (NYSE:FUN)’s stock price traded up 8% on Tuesday . The stock traded as high as $17.95 and last traded at $17.6950. 620,885 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,277,463 shares. The stock had previously closed at $16.39.

Wall Street Analyst Weigh In

FUN has been the topic of a number of recent analyst reports. Citigroup downgraded shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a research report on Thursday, February 5th. Barclays reiterated an “overweight” rating and set a $22.00 target price on shares of Six Flags Entertainment in a research note on Monday, February 23rd. Morgan Stanley set a $18.00 target price on Six Flags Entertainment in a report on Friday, February 20th. Guggenheim cut their price target on Six Flags Entertainment from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Mizuho upped their price objective on Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.62.

Six Flags Entertainment Stock Down 0.1%

The firm’s 50-day moving average price is $16.95 and its two-hundred day moving average price is $18.28. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.59 and a current ratio of 0.69. The firm has a market cap of $1.79 billion, a PE ratio of -1.11 and a beta of 0.36.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.60). Six Flags Entertainment had a positive return on equity of 3.77% and a negative net margin of 51.58%.The company had revenue of $650.09 million for the quarter, compared to analyst estimates of $602.68 million. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts expect that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Six Flags Entertainment by 56.5% in the second quarter. Envestnet Asset Management Inc. now owns 61,081 shares of the company’s stock valued at $1,859,000 after buying an additional 22,054 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Six Flags Entertainment by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,208,815 shares of the company’s stock worth $67,222,000 after acquiring an additional 52,337 shares during the last quarter. JANA Partners Management LP purchased a new position in shares of Six Flags Entertainment during the third quarter worth approximately $92,015,000. Long Pond Capital LP increased its holdings in shares of Six Flags Entertainment by 55.2% in the 2nd quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after acquiring an additional 1,172,101 shares during the period. Finally, Quantbot Technologies LP raised its position in Six Flags Entertainment by 190.5% in the 3rd quarter. Quantbot Technologies LP now owns 230,120 shares of the company’s stock valued at $5,228,000 after purchasing an additional 150,913 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other 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.