Six Flags Entertainment (NYSE:FUN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) saw unusually-high trading volume on Wednesday. Approximately 4,095,176 shares were traded during trading, an increase of 69% from the previous session’s volume of 2,424,800 shares. The stock last traded at $7.11 and had previously closed at $7.86.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FUN. Oppenheimer cut their price target on shares of Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Six Flags Entertainment in a report on Wednesday, August 12th. Mizuho set a $5.00 price objective on shares of Six Flags Entertainment in a research report on Wednesday. The Goldman Sachs Group set a $15.00 target price on shares of Six Flags Entertainment in a report on Friday, August 7th. Finally, Zacks Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.38.

Six Flags Entertainment Price Performance

The firm has a market capitalization of $722.89 million, a P/E ratio of -0.41 and a beta of 0.45. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. The company has a fifty day moving average of $13.28 and a 200 day moving average of $17.49.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.15). The company had revenue of $864.92 million for the quarter, compared to analyst estimates 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 firm earned $0.26 EPS. Sell-side analysts predict that Six Flags Entertainment Corporation will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John Reilly bought 15,713 shares of the stock in a transaction that occurred 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 completion of the purchase, the chief executive officer directly owned 297,736 shares of the company’s stock, valued at $4,704,228.80. This trade represents a 5.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of hedge funds have recently modified their holdings of the company. Counterpoint Mutual Funds LLC purchased a new stake in Six Flags Entertainment in the third quarter worth about $177,000. WINTON GROUP Ltd lifted its position in Six Flags Entertainment by 22.9% during the second quarter. WINTON GROUP Ltd now owns 241,990 shares of the company’s stock valued at $5,154,000 after purchasing an additional 45,158 shares during the period. Engineers Gate Manager LP bought a new position in Six Flags Entertainment in the second quarter valued at about $898,000. Integrated Wealth Concepts LLC purchased a new stake in Six Flags Entertainment in the second quarter worth about $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Six Flags Entertainment during the second quarter valued at about $432,000. 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.