The Manufacturers Life Insurance Company lessened its position in shares of Six Flags Entertainment Corp (NYSE:SIX) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 236,569 shares of the company’s stock after selling 11,445 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Six Flags Entertainment were worth $15,748,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SIX. Bronfman E.L. Rothschild L.P. grew its position in Six Flags Entertainment by 1,477.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,130 shares of the company’s stock valued at $142,000 after acquiring an additional 1,995 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Six Flags Entertainment during the fourth quarter valued at about $151,000. Benjamin F. Edwards & Company Inc. grew its position in Six Flags Entertainment by 171.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $193,000 after acquiring an additional 1,830 shares during the period. First Trust Advisors LP purchased a new stake in Six Flags Entertainment during the third quarter valued at about $205,000. Finally, Csenge Advisory Group purchased a new stake in Six Flags Entertainment during the third quarter valued at about $238,000. 98.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Six Flags Entertainment Corp (NYSE:SIX) opened at $66.89 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.74 and a debt-to-equity ratio of -4.00. Six Flags Entertainment Corp has a 1 year low of $51.25 and a 1 year high of $70.44. The firm has a market capitalization of $5,655.65, a PE ratio of 30.13, a PEG ratio of 3.19 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Monday, February 19th will be paid a $0.78 dividend. This is a boost from Six Flags Entertainment’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 4.66%. Six Flags Entertainment’s payout ratio is 97.20%.
In related news, Chairman James Reid-Anderson sold 78,614 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $66.32, for a total value of $5,213,680.48. Following the transaction, the chairman now owns 3,520,146 shares in the company, valued at $233,456,082.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Barber sold 597 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $66.57, for a total value of $39,742.29. Following the completion of the transaction, the chief financial officer now owns 80,536 shares in the company, valued at approximately $5,361,281.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,778 shares of company stock worth $16,081,403. Insiders own 6.90% of the company’s stock.
SIX has been the subject of a number of research reports. Zacks Investment Research downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $78.00 target price (up previously from $72.00) on shares of Six Flags Entertainment in a research report on Wednesday, February 21st. Wedbush set a $76.00 target price on Six Flags Entertainment and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, B. Riley reaffirmed a “buy” rating on shares of Six Flags Entertainment in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Six Flags Entertainment currently has an average rating of “Buy” and a consensus target price of $68.80.
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About Six Flags Entertainment
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.
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