Six Flags Entertainment (NYSE:FUN) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Six Flags Entertainment (NYSE:FUN) from a strong-buy rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

FUN has been the topic of several other reports. Stifel Nicolaus set a $23.00 price target on Six Flags Entertainment in a report on Friday, August 7th. Barclays dropped their price objective 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. The Goldman Sachs Group set a $15.00 target price on shares of Six Flags Entertainment in a research report on Friday, August 7th. Northcoast Research assumed coverage on shares of Six Flags Entertainment in a report on Wednesday, July 8th. They set a “neutral” rating on the stock. Finally, Truist Financial upped their price target on shares of Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Six Flags Entertainment has a consensus rating of “Hold” and a consensus price target of $21.93.

Six Flags Entertainment Stock Up 3.0%

FUN stock opened at $16.39 on Tuesday. The stock has a market capitalization of $1.68 billion, a P/E ratio of -0.95 and a beta of 0.40. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. Six Flags Entertainment has a 12 month low of $12.51 and a 12 month high of $27.37. The firm has a 50-day moving average price of $19.96 and a 200-day moving average price of $18.84.

Insider Activity

In related news, Director Marilyn G. Spiegel purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director owned 15,161 shares in the company, valued at approximately $289,575.10. This represents a 19.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rehan Jaffer acquired 125,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at $114,709,000. The trade was a 2.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 268,213 shares of company stock valued at $6,183,515. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Atlas Wealth LLC acquired a new position in shares of Six Flags Entertainment in the 1st quarter worth approximately $26,000. Danske Bank A S acquired a new stake in shares of Six Flags Entertainment during the third quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Six Flags Entertainment during the fourth quarter worth $28,000. Northwestern Mutual Wealth Management Co. raised its stake in Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 722 shares during the last quarter. Finally, Allworth Financial LP bought a new position in Six Flags Entertainment during the second quarter worth $35,000. 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.