Hawk Ridge Capital Management LP Cuts Stock Holdings in Six Flags Entertainment Corporation $FUN

Hawk Ridge Capital Management LP lowered its holdings in Six Flags Entertainment Corporation (NYSE:FUN) by 11.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,368,578 shares of the company’s stock after selling 171,072 shares during the quarter. Hawk Ridge Capital Management LP’s holdings in Six Flags Entertainment were worth $24,292,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. UBS Group AG raised its stake in Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after buying an additional 4,446,104 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in Six Flags Entertainment by 106.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company’s stock valued at $1,968,000 after acquiring an additional 66,263 shares in the last quarter. Havemeyer Place LP purchased a new position in shares of Six Flags Entertainment in the 4th quarter valued at $1,289,000. Lee Danner & Bass Inc. purchased a new position in shares of Six Flags Entertainment in the 1st quarter valued at $2,089,000. Finally, ING Groep NV raised its position in shares of Six Flags Entertainment by 70.7% in the 4th quarter. ING Groep NV now owns 1,046,000 shares of the company’s stock worth $16,046,000 after acquiring an additional 433,100 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Insider Activity

In related news, insider Richard M. Haddrill acquired 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $19.08 per share, for a total transaction of $190,800.00. Following the completion of the purchase, the insider owned 230,117 shares of the company’s stock, valued at approximately $4,390,632.36. This represents a 4.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rehan Jaffer purchased 125,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the purchase, the director owned 4,900,000 shares in the company, valued at approximately $114,709,000. The trade was a 2.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 265,000 shares of company stock worth $6,173,850 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Six Flags Entertainment Stock Up 1.5%

Six Flags Entertainment stock opened at $17.63 on Tuesday. The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -1.08 and a beta of 0.38. Six Flags Entertainment Corporation has a 1-year low of $12.51 and a 1-year high of $31.99. The business has a fifty day moving average price of $20.67 and a 200-day moving average price of $18.76.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FUN. Zacks Research cut Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. UBS Group lifted their target price on Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Friday, May 8th. The Goldman Sachs Group increased their price target on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Guggenheim lowered their price target on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.