Six Flags Entertainment (NYSE:FUN) Shares Gap Down – Time to Sell?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) gapped down before the market opened on Monday . The stock had previously closed at $20.99, but opened at $20.24. Six Flags Entertainment shares last traded at $19.99, with a volume of 172,333 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on FUN shares. Guggenheim cut their price target on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 13th. JPMorgan Chase & Co. upgraded Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price objective on the stock in a research report on Friday, May 8th. Weiss Ratings lowered Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Citigroup initiated coverage on Six Flags Entertainment in a research report on Monday, June 29th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.43.

Six Flags Entertainment Stock Performance

The stock has a 50-day moving average of $21.09 and a 200 day moving average of $18.41. The firm has a market capitalization of $1.95 billion, a P/E ratio of -1.17 and a beta of 0.38. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.71) by $0.06. The firm had revenue of $225.63 million during the quarter, compared to the consensus estimate of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. On average, research analysts anticipate that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current year.

Insider Activity at Six Flags Entertainment

In related news, Director Marilyn G. Spiegel purchased 2,500 shares of Six Flags Entertainment stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the transaction, the director directly owned 15,161 shares in the company, valued at approximately $289,575.10. This represents a 19.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard M. Haddrill acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $19.08 per share, for a total transaction of $190,800.00. Following the acquisition, the insider owned 230,117 shares in the company, valued at approximately $4,390,632.36. The trade was a 4.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 265,000 shares of company stock valued at $6,173,850 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Six Flags Entertainment

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

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.