Six Flags Entertainment (NYSE:FUN) Shares Down 8.3% – What’s Next?

Six Flags Entertainment Corporation (NYSE:FUN) shares traded down 8.3% on Monday . The stock traded as low as $22.92 and last traded at $22.87. Approximately 1,386,256 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 2,102,686 shares. The stock had previously closed at $24.94.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FUN shares. Guggenheim dropped their target price on shares of Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Oppenheimer decreased their price target on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings lowered shares of Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, JPMorgan Chase & Co. raised Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price objective on the stock in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Six Flags Entertainment currently has an average rating of “Hold” and an average target price of $25.15.

Six Flags Entertainment Stock Performance

The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -1.41 and a beta of 0.38. 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 50-day moving average of $20.74 and a 200 day moving average of $17.99.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share (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 company had revenue of $225.63 million for the quarter, compared to the consensus estimate of $207.49 million. On average, analysts expect that Six Flags Entertainment Corporation will post -0.28 EPS for the current year.

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was bought at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the transaction, the director owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. The trade was a 2.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marilyn G. Spiegel bought 2,500 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $19.10 per share, with a total value of $47,750.00. Following the transaction, the director directly owned 15,161 shares in the company, valued at approximately $289,575.10. The trade was a 19.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 265,000 shares of company stock worth $6,173,850 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its holdings in Six Flags Entertainment by 145.5% during the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock worth $25,000 after buying an additional 975 shares during the last quarter. Atlas Wealth LLC acquired a new position in shares of Six Flags Entertainment during the 1st quarter worth about $26,000. Danske Bank A S bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Six Flags Entertainment in the 4th quarter valued at about $28,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

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.