Kanen Wealth Management LLC Buys Shares of 848,643 Six Flags Entertainment Corporation $FUN

Kanen Wealth Management LLC acquired a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 848,643 shares of the company’s stock, valued at approximately $15,063,000. Six Flags Entertainment makes up approximately 5.4% of Kanen Wealth Management LLC’s portfolio, making the stock its 6th largest position. Kanen Wealth Management LLC owned 0.83% of Six Flags Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS Group AG increased its holdings in shares of 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 purchasing an additional 4,446,104 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake 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 valued at $1,968,000 after buying an additional 66,263 shares during the period. Havemeyer Place LP purchased a new position in Six Flags Entertainment during the fourth quarter worth about $1,289,000. Lee Danner & Bass Inc. bought a new position in Six Flags Entertainment in the 1st quarter worth about $2,089,000. Finally, ING Groep NV increased its stake in 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 during the last quarter. Institutional investors own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FUN. Oppenheimer dropped their price target on Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group upped their price objective on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Zacks Research lowered shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Citizens Jmp initiated coverage on shares of Six Flags Entertainment in a research note on Monday, June 29th. They issued a “market outperform” rating and a $29.00 price target for the company. Finally, JPMorgan Chase & Co. raised shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price target on the stock in a report on Friday, May 8th. Eight 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 data from MarketBeat.com, Six Flags Entertainment has an average rating of “Hold” and an average price target of $25.00.

Insider Activity

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard M. Haddrill bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $19.08 per share, for a total transaction of $190,800.00. Following the transaction, the insider owned 230,117 shares in the company, valued at $4,390,632.36. This trade represents a 4.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 265,000 shares of company stock valued at $6,173,850. Corporate insiders own 2.10% of the company’s stock.

Six Flags Entertainment Stock Performance

NYSE:FUN opened at $18.64 on Wednesday. The business has a 50 day moving average of $20.65 and a 200 day moving average of $18.78. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.14 and a beta of 0.38. Six Flags Entertainment Corporation has a 1-year low of $12.51 and a 1-year high of $31.51. The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62.

Six Flags Entertainment (NYSE:FUN) 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. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. The business had revenue of $225.63 million for the quarter, compared to analysts’ expectations of $207.49 million. On average, sell-side analysts predict that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current fiscal year.

Six Flags Entertainment 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.