Zacks Investment Research lowered shares of Six Flags Entertainment (NYSE:SIX) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. “
Other research analysts have also recently issued reports about the stock. Wedbush set a $76.00 target price on shares of Six Flags Entertainment and gave the stock a buy rating in a report on Monday, January 8th. Stifel Nicolaus reaffirmed a buy rating and set a $78.00 target price (up from $72.00) on shares of Six Flags Entertainment in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $68.80.
Six Flags Entertainment (NYSE:SIX) last announced its earnings results on Tuesday, February 20th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Six Flags Entertainment had a net margin of 20.15% and a negative return on equity of 41.55%. The company had revenue of $256.76 million for the quarter, compared to analysts’ expectations of $252.75 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. research analysts predict that Six Flags Entertainment will post 2.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 5.24%. This is a boost from Six Flags Entertainment’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, February 15th. Six Flags Entertainment’s dividend payout ratio (DPR) is 97.20%.
In related news, CFO Marshall Barber sold 597 shares of Six Flags Entertainment stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $66.57, for a total value of $39,742.29. Following the transaction, the chief financial officer now directly owns 80,536 shares of the company’s stock, valued at $5,361,281.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lance C. Balk sold 100,000 shares of Six Flags Entertainment stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $65.67, for a total transaction of $6,567,000.00. Following the completion of the transaction, the vice president now directly owns 15,738 shares in the company, valued at $1,033,514.46. The disclosure for this sale can be found here. Insiders sold 100,701 shares of company stock worth $6,613,596 over the last three months. 6.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Assetmark Inc. increased its stake in Six Flags Entertainment by 251.0% in the fourth quarter. Assetmark Inc. now owns 1,548 shares of the company’s stock valued at $103,000 after acquiring an additional 1,107 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Six Flags Entertainment by 1,477.8% in 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 last quarter. SeaCrest Wealth Management LLC bought a new position in Six Flags Entertainment in the fourth quarter valued at approximately $151,000. Benjamin F. Edwards & Company Inc. increased its stake in Six Flags Entertainment by 171.0% in 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 last quarter. Finally, WealthPLAN Partners LLC bought a new position in Six Flags Entertainment in the fourth quarter valued at approximately $217,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.
Six Flags Entertainment Company Profile
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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