Northern Right Capital Management L.P. Boosts Stock Position in Six Flags Entertainment Corp (NYSE:SIX)

Northern Right Capital Management L.P. grew its stake in Six Flags Entertainment Corp (NYSE:SIX) by 17.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,243 shares of the company’s stock after purchasing an additional 12,251 shares during the quarter. Six Flags Entertainment makes up about 3.6% of Northern Right Capital Management L.P.’s holdings, making the stock its 9th largest position. Northern Right Capital Management L.P. owned approximately 0.10% of Six Flags Entertainment worth $4,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Six Flags Entertainment by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 499,387 shares of the company’s stock worth $27,779,000 after buying an additional 10,856 shares during the last quarter. Geode Capital Management LLC increased its holdings in Six Flags Entertainment by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 736,313 shares of the company’s stock valued at $41,083,000 after purchasing an additional 64,396 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Six Flags Entertainment by 101.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,540 shares of the company’s stock valued at $125,000 after purchasing an additional 1,278 shares during the period. Victory Capital Management Inc. increased its holdings in Six Flags Entertainment by 30.3% during the 1st quarter. Victory Capital Management Inc. now owns 2,883 shares of the company’s stock valued at $142,000 after purchasing an additional 671 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Six Flags Entertainment by 7.3% during the 1st quarter. California Public Employees Retirement System now owns 186,904 shares of the company’s stock valued at $9,224,000 after purchasing an additional 12,642 shares during the period. Institutional investors own 85.16% of the company’s stock.

SIX has been the topic of a number of research analyst reports. Wedbush upgraded Six Flags Entertainment from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $51.00 to $62.00 in a report on Wednesday, June 19th. B. Riley upped their target price on Six Flags Entertainment from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. ValuEngine downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Wells Fargo & Co upgraded Six Flags Entertainment from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $52.00 to $56.00 in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Six Flags Entertainment has a consensus rating of “Buy” and a consensus price target of $62.70.

In other news, CFO Marshall Barber sold 468 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $58.98, for a total value of $27,602.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 643 shares of company stock worth $37,865. Insiders own 5.90% of the company’s stock.

Shares of SIX traded down $0.21 during mid-day trading on Wednesday, reaching $54.38. The company had a trading volume of 15,070 shares, compared to its average volume of 1,006,135. The firm has a 50-day moving average price of $55.84 and a 200 day moving average price of $52.67. Six Flags Entertainment Corp has a 52 week low of $46.68 and a 52 week high of $71.27. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. Six Flags Entertainment had a negative return on equity of 41.03% and a net margin of 18.35%. The firm had revenue of $477.20 million for the quarter, compared to analysts’ expectations of $468.44 million. During the same period in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that Six Flags Entertainment Corp will post 2.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $0.82 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.03%. Six Flags Entertainment’s dividend payout ratio is currently 101.55%.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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Institutional Ownership by Quarter for Six Flags Entertainment (NYSE:SIX)

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