Six Flags Entertainment (NYSE:FUN) Sees Strong Trading Volume – Here’s Why

Shares of Six Flags Entertainment Corporation (NYSE:FUN) saw unusually-high trading volume on Wednesday. Approximately 4,095,176 shares changed hands during trading, an increase of 69% from the previous session’s volume of 2,424,800 shares. The stock last traded at $7.11 and had previously closed at $7.86.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup decreased their price target on Six Flags Entertainment from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Zacks Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Citizens Jmp decreased their price objective on Six Flags Entertainment from $29.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Finally, Oppenheimer decreased their price objective 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. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Six Flags Entertainment has an average rating of “Hold” and a consensus price target of $18.38.

Six Flags Entertainment Stock Down 10.1%

The company’s fifty day moving average is $13.28 and its 200-day moving average is $17.49. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The company has a market cap of $722.89 million, a PE ratio of -0.41 and a beta of 0.45.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.15). Six Flags Entertainment had a positive return on equity of 7.43% and a negative net margin of 57.25%. The company had revenue of $864.92 million for the quarter, compared to the consensus estimate of $928.36 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, analysts predict that Six Flags Entertainment Corporation will post -0.91 EPS for the current year.

Insider Activity

In other news, CEO John Reilly bought 15,713 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Six Flags Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of FUN. Man Group plc purchased a new stake in shares of Six Flags Entertainment during the 2nd quarter worth $7,134,000. Legal & General Group Plc bought a new stake in Six Flags Entertainment in the second quarter valued at about $4,808,000. Lee Danner & Bass Inc. bought a new stake in shares of Six Flags Entertainment in the 1st quarter worth approximately $2,089,000. Bank of America Corp DE bought a new stake in shares of Six Flags Entertainment during the 2nd quarter worth about $9,066,000. Finally, BlackRock Inc. bought a new stake in Six Flags Entertainment during the second quarter worth approximately $339,057,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.