Six Flags Entertainment (NYSE:FUN) Trading Down 7% – Here’s Why

Six Flags Entertainment Corporation (NYSE:FUN)’s share price fell 7% during trading on Wednesday . The company traded as low as $14.60 and last traded at $14.6380. Approximately 403,381 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,153,420 shares. The stock had previously closed at $15.74.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Guggenheim cut their price target on Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a report on Friday, July 24th. Citizens Jmp decreased their price objective on shares of Six Flags Entertainment from $29.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Truist Financial lowered their price objective on shares of Six Flags Entertainment from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group set a $15.00 target price on shares of Six Flags Entertainment in a research report on Friday, August 7th. Finally, Barclays dropped their price objective on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have 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 $21.50.

Six Flags Entertainment Price Performance

The stock has a market capitalization of $1.40 billion, a P/E ratio of -0.79 and a beta of 0.38. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. The company has a fifty day simple moving average of $17.07 and a two-hundred day simple moving average of $18.59.

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, Director Rehan Jaffer acquired 125,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $2,926,250.00. Following the completion of the acquisition, the director directly owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This represents a 2.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Reilly bought 15,713 shares of the stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer directly owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Man Group plc acquired a new position in Six Flags Entertainment in the 2nd quarter worth $7,134,000. Lee Danner & Bass Inc. bought a new stake in Six Flags Entertainment in the 1st quarter valued at approximately $2,089,000. Legal & General Group Plc acquired a new position in Six Flags Entertainment during the 2nd quarter worth approximately $4,808,000. Havemeyer Place LP acquired a new stake in shares of Six Flags Entertainment in the fourth quarter valued at approximately $1,289,000. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in Six Flags Entertainment by 106.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company’s stock worth $1,968,000 after purchasing an additional 66,263 shares during the last quarter. Institutional investors own 64.65% 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.