Stock Traders Buy High Volume of Six Flags Entertainment Put Options (SIX)

Six Flags Entertainment Corp (NYSE:SIX) was the target of some unusual options trading on Monday. Stock traders bought 3,228 put options on the company. This is an increase of approximately 4,147% compared to the average volume of 76 put options.

Shares of Six Flags Entertainment (NYSE:SIX) opened at $65.74 on Thursday. Six Flags Entertainment has a fifty-two week low of $51.25 and a fifty-two week high of $67.93. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -3.53. The firm has a market cap of $5,510.00, a PE ratio of 31.45, a PEG ratio of 3.58 and a beta of 1.18.

Six Flags Entertainment (NYSE:SIX) last released its quarterly earnings results on Wednesday, October 25th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.31. Six Flags Entertainment had a net margin of 13.24% and a negative return on equity of 47.41%. The firm had revenue of $580.40 million during the quarter, compared to analysts’ expectations of $583.59 million. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. research analysts anticipate that Six Flags Entertainment will post 2.13 earnings per share for the current year.

A number of brokerages have weighed in on SIX. TheStreet raised shares of Six Flags Entertainment from a “c+” rating to a “b-” rating in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and set a $70.00 target price on shares of Six Flags Entertainment in a research note on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 target price on shares of Six Flags Entertainment in a research note on Thursday, October 12th. FBR & Co reissued a “buy” rating and set a $65.00 price target on shares of Six Flags Entertainment in a research report on Monday, September 25th. Finally, Wedbush set a $76.00 price target on shares of Six Flags Entertainment and gave the company a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Six Flags Entertainment currently has an average rating of “Hold” and an average price target of $67.44.

In other Six Flags Entertainment news, Chairman James Reid-Anderson sold 42,690 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $67.56, for a total transaction of $2,884,136.40. Following the completion of the sale, the chairman now directly owns 3,384,212 shares in the company, valued at $228,637,362.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 281,085 shares of company stock worth $18,702,788. 6.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Six Flags Entertainment by 9.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,775 shares of the company’s stock worth $1,000,000 after acquiring an additional 1,421 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Six Flags Entertainment during the 2nd quarter worth approximately $255,000. Thrivent Financial For Lutherans increased its stake in Six Flags Entertainment by 542.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 783,720 shares of the company’s stock valued at $46,718,000 after purchasing an additional 661,690 shares in the last quarter. Teachers Advisors LLC increased its stake in Six Flags Entertainment by 5.4% during the 2nd quarter. Teachers Advisors LLC now owns 136,543 shares of the company’s stock valued at $8,139,000 after purchasing an additional 6,986 shares in the last quarter. Finally, Emerald Advisers Inc. PA increased its stake in Six Flags Entertainment by 8.0% during the 3rd quarter. Emerald Advisers Inc. PA now owns 36,162 shares of the company’s stock valued at $2,204,000 after purchasing an additional 2,668 shares in the last quarter. 99.45% of the stock is owned by hedge funds and other institutional investors.

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Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.

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