Northcoast Research Initiates Coverage on Six Flags Entertainment (NYSE:FUN)

Northcoast Research initiated coverage on shares of Six Flags Entertainment (NYSE:FUN) in a report issued on Wednesday. The firm set a “neutral” rating on the stock.

FUN has been the subject of several other research reports. Oppenheimer reduced their price objective on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Barclays increased their target price on shares of Six Flags Entertainment from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. The Goldman Sachs Group lifted their price target on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Citizens Jmp initiated coverage on shares of Six Flags Entertainment in a research report on Monday, June 29th. They set a “market outperform” rating and a $29.00 price objective on the stock. Finally, Zacks Research downgraded Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.43.

Six Flags Entertainment Trading Down 2.3%

NYSE FUN opened at $19.11 on Wednesday. The firm has a market capitalization of $1.95 billion, a PE ratio of -1.17 and a beta of 0.38. The business’s 50-day moving average price is $21.09 and its two-hundred day moving average price is $18.41. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. Six Flags Entertainment has a 12 month low of $12.51 and a 12 month high of $33.50.

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

Insider Transactions at Six Flags Entertainment

In related news, Director Rehan Jaffer purchased 125,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares of the company’s stock, valued at $114,709,000. This represents a 2.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marilyn G. Spiegel bought 2,500 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was bought at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the purchase, the director owned 15,161 shares of the company’s stock, valued at approximately $289,575.10. The trade was a 19.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 265,000 shares of company stock worth $6,173,850 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. JANA Partners Management LP purchased a new stake in shares of Six Flags Entertainment during the 3rd quarter valued at approximately $92,015,000. Rush Island Management LP bought a new position in Six Flags Entertainment in the 2nd quarter worth approximately $115,454,000. Morgan Stanley grew its stake in Six Flags Entertainment by 62.1% in the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock valued at $145,324,000 after buying an additional 3,629,445 shares in the last quarter. Finally, EdgePoint Investment Group Inc. purchased a new position in Six Flags Entertainment in the 3rd quarter valued at approximately $70,764,000. 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.