Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from The Goldman Sachs Group

Six Flags Entertainment (NYSE:FUN) had its price target decreased by The Goldman Sachs Group from $15.00 to $6.00 in a report released on Monday, MarketBeat Ratings reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group cut their price objective on shares of Six Flags Entertainment from $27.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Six Flags Entertainment in a research report on Wednesday, August 12th. Oppenheimer decreased their target price on shares of Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Citigroup lowered their price target on shares of Six Flags Entertainment from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Guggenheim lowered their price target on shares of Six Flags Entertainment from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment currently has a consensus rating of “Hold” and a consensus target price of $16.92.

Six Flags Entertainment Stock Down 1.9%

Shares of FUN opened at $7.56 on Monday. The firm has a market cap of $773.82 million, a P/E ratio of -0.44 and a beta of 0.45. The stock has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $17.00. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. Six Flags Entertainment has a 1 year low of $6.60 and a 1 year high of $26.28.

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

Insider Buying and Selling

In related news, CEO John Reilly purchased 15,713 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $15.80 per share, with a total value of $248,265.40. Following the purchase, the chief executive officer directly owned 297,736 shares of the company’s stock, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Institutional Trading of Six Flags Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Six Flags Entertainment during the second quarter worth about $339,057,000. Kanen Wealth Management LLC bought a new stake in shares of Six Flags Entertainment in the first quarter worth about $15,063,000. Bank of New York Mellon Corp purchased a new position in Six Flags Entertainment during the 2nd quarter valued at about $11,975,000. Jupiter Topco LLC purchased a new position in Six Flags Entertainment during the 2nd quarter valued at about $10,348,000. Finally, Bank of America Corp DE purchased a new position in Six Flags Entertainment during the 2nd quarter valued at about $9,066,000. 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.