Six Flags Entertainment Corporation (NYSE:FUN) Receives $24.85 Average Price Target from Brokerages

Shares of Six Flags Entertainment Corporation (NYSE:FUN) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.8462.

Several research firms have recently issued reports on FUN. Truist Financial raised their price target on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Zacks Research raised Six Flags Entertainment from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Morgan Stanley set a $18.00 price target on Six Flags Entertainment in a research report on Friday, February 20th. Mizuho raised their price objective on Six Flags Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Oppenheimer reduced their target price on Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st.

Six Flags Entertainment Price Performance

Shares of FUN opened at $20.73 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13. The stock has a market cap of $2.12 billion, a PE ratio of -1.27 and a beta of 0.38. Six Flags Entertainment has a 12-month low of $12.51 and a 12-month high of $33.63. The business has a 50-day simple moving average of $19.34 and a two-hundred day simple moving average of $17.21.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, topping the consensus estimate of ($2.71) by $0.06. The company had revenue of $225.63 million for the quarter, compared to analysts’ expectations of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. Analysts anticipate that Six Flags Entertainment will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Richard M. Haddrill acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $19.08 per share, for a total transaction of $190,800.00. Following the completion of the transaction, the insider directly owned 230,117 shares in the company, valued at $4,390,632.36. This represents a 4.54% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marilyn G. Spiegel bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the acquisition, the director owned 15,161 shares of the company’s stock, valued at $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 15,000 shares of company stock worth $286,350. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

Institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC grew its position in shares of Six Flags Entertainment by 145.5% during the 4th quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock worth $25,000 after buying an additional 975 shares during the period. Atlas Wealth LLC bought a new position in shares of Six Flags Entertainment during the 1st quarter worth approximately $26,000. Danske Bank A S bought a new position in shares of Six Flags Entertainment during the 3rd quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Six Flags Entertainment in the 4th quarter worth approximately $28,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Six Flags Entertainment during the 3rd quarter worth about $30,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.