Six Flags Entertainment (NYSE:FUN) Stock Rating Lowered by Zacks Research

Six Flags Entertainment (NYSE:FUN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on FUN. Guggenheim reduced their price target on Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, July 24th. UBS Group lifted their price objective on Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Barclays reduced their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Truist Financial raised their target price on shares of Six Flags Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Six Flags Entertainment presently has a consensus rating of “Hold” and an average price target of $21.93.

Six Flags Entertainment Stock Up 3.0%

Six Flags Entertainment stock opened at $16.39 on Tuesday. The stock has a market cap of $1.68 billion, a PE ratio of -0.95 and a beta of 0.40. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42. Six Flags Entertainment has a one year low of $12.51 and a one year high of $27.37. The stock has a fifty day moving average of $19.96 and a 200 day moving average of $18.84.

Insider Buying and Selling

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of the firm’s 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 purchase, the director owned 4,900,000 shares of the company’s stock, valued at $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John T. Reilly purchased 15,713 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the completion of the acquisition, the chief executive officer owned 297,736 shares in the company, valued at $4,704,228.80. This 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. Over the last 90 days, insiders acquired 268,213 shares of company stock worth $6,183,515. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Six Flags Entertainment during the second quarter valued at $1,102,000. Landscape Capital Management L.L.C. purchased a new position in shares of Six Flags Entertainment in the 2nd quarter worth $3,415,000. Allworth Financial LP purchased a new position in shares of Six Flags Entertainment in the 2nd quarter worth $35,000. BlackRock Inc. bought a new stake in shares of Six Flags Entertainment in the 2nd quarter worth about $339,057,000. Finally, Deutsche Bank AG bought a new stake in shares of Six Flags Entertainment in the 2nd quarter worth about $2,317,000. 64.65% of the stock is 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.