Six Flags Entertainment Corporation (NYSE:FUN) Receives $21.93 Average Price Target from Analysts

Shares of Six Flags Entertainment Corporation (NYSE:FUN) have earned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.9286.

A number of research firms have weighed in on FUN. Barclays lowered their price objective on Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Mizuho set a $10.00 target price on Six Flags Entertainment and gave the stock an “underperform” rating in a research note on Friday, August 7th. Oppenheimer reduced their price target on Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Wall Street Zen cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Zacks Research lowered shares of Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, August 11th.

Six Flags Entertainment Trading Up 0.4%

FUN opened at $16.79 on Monday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -0.97 and a beta of 0.41. The company’s 50 day simple moving average is $19.11 and its two-hundred day simple moving average is $18.77. Six Flags Entertainment has a 1-year low of $12.51 and a 1-year high of $27.37. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36.

Insider Transactions at Six Flags Entertainment

In other news, Director Rehan Jaffer purchased 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John T. Reilly purchased 15,713 shares of Six Flags Entertainment stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the transaction, the chief executive officer owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 265,713 shares of company stock worth $6,135,765 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Six Flags Entertainment in the 2nd quarter valued at about $339,057,000. UBS Group AG boosted its stake in Six Flags Entertainment by 533.4% during 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 during the period. Rush Island Management LP purchased a new position in Six Flags Entertainment during the second quarter worth about $115,454,000. Morgan Stanley increased its position in shares of Six Flags Entertainment by 62.1% during the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock valued at $145,324,000 after acquiring an additional 3,629,445 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Six Flags Entertainment during the fourth quarter valued at about $36,661,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

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.