Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Six Flags Entertainment (NYSE:FUN) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $22.00 to $12.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.33% from the stock’s previous close.

FUN has been the topic of several other reports. Mizuho set a $5.00 price objective on shares of Six Flags Entertainment in a report on Wednesday, October 21st. Citigroup cut their target price on Six Flags Entertainment from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Six Flags Entertainment in a research note on Wednesday, August 12th. The Goldman Sachs Group restated a “neutral” rating and set a $9.00 price target on shares of Six Flags Entertainment in a research report on Friday. Finally, Wall Street Zen lowered Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.85.

Six Flags Entertainment Trading Up 7.8%

Shares of NYSE FUN traded up $0.78 during mid-day trading on Monday, reaching $10.78. 4,400,312 shares of the company’s stock were exchanged, compared to its average volume of 2,707,095. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.18 and a beta of 0.50. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.46 and a current ratio of 0.52. Six Flags Entertainment has a 52-week low of $6.60 and a 52-week high of $26.28. The company’s 50-day moving average is $11.05 and its 200-day moving average is $16.73.

Six Flags Entertainment (NYSE:FUN) last announced its earnings results on Thursday, November 5th. The company reported ($3.59) earnings per share for the quarter, missing the consensus estimate of $1.93 by ($5.52). Six Flags Entertainment had a negative return on equity of 15.95% and a negative net margin of 31.91%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned ($2.20) EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. Analysts expect that Six Flags Entertainment will post -0.91 EPS for the current fiscal year.

Insider Transactions at Six Flags Entertainment

In other Six Flags Entertainment news, CEO John Reilly bought 15,713 shares of Six Flags Entertainment stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $15.80 per share, for a total transaction 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 represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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

A number of large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System increased its holdings in Six Flags Entertainment by 53.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,804 shares of the company’s stock worth $244,000 after purchasing an additional 7,940 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Six Flags Entertainment in the 3rd quarter valued at about $4,884,000. Lido Advisors LLC purchased a new position in shares of Six Flags Entertainment in the 3rd quarter valued at about $1,022,000. State of Wyoming boosted its stake in shares of Six Flags Entertainment by 27.3% in the 3rd quarter. State of Wyoming now owns 33,581 shares of the company’s stock valued at $360,000 after buying an additional 7,194 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Six Flags Entertainment by 138.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 48,500 shares of the company’s stock worth $519,000 after buying an additional 28,200 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

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.