Six Flags Entertainment Corporation $FUN Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its stake in Six Flags Entertainment Corporation (NYSE:FUN) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,117 shares of the company’s stock after selling 53,450 shares during the quarter. Pinnacle Associates Ltd. owned about 0.15% of Six Flags Entertainment worth $2,333,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FUN. UBS Group AG boosted its holdings in shares of 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 last quarter. JANA Partners Management LP acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $92,015,000. Rush Island Management LP acquired a new position in shares of Six Flags Entertainment in the 2nd quarter valued at $115,454,000. EdgePoint Investment Group Inc. acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $70,764,000. Finally, Land & Buildings Investment Management LLC acquired a new position in shares of Six Flags Entertainment in the 3rd quarter valued at $36,024,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Six Flags Entertainment Stock Performance

NYSE:FUN opened at $21.27 on Friday. Six Flags Entertainment Corporation has a twelve month low of $12.51 and a twelve month high of $38.27. 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 firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.30 and a beta of 0.35. The firm’s fifty day simple moving average is $18.24 and its 200 day simple moving average is $17.15.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) earnings per share 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 analysts’ expectations of $207.49 million. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. As a group, equities research analysts expect that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FUN. Wall Street Zen upgraded shares of Six Flags Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday. Truist Financial lifted their target price on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, March 26th. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 target price on the stock in a report on Friday, May 8th. Oppenheimer reduced their target price on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Finally, Zacks Research upgraded shares of Six Flags Entertainment from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.85.

Insider Transactions at Six Flags Entertainment

In other news, insider Richard M. Haddrill acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $19.08 per share, with a total value of $190,800.00. Following the transaction, the insider directly owned 230,117 shares in the company, valued at approximately $4,390,632.36. This represents a 4.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marilyn G. Spiegel acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $19.12 per share, with a total value of $47,800.00. Following the completion of the transaction, the director owned 12,661 shares in the company, valued at $242,078.32. The trade was a 24.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

Six Flags Entertainment Company Profile

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.