Point72 Asset Management L.P. Boosts Holdings in Six Flags Entertainment Corp (NYSE:SIX)

Point72 Asset Management L.P. increased its position in Six Flags Entertainment Corp (NYSE:SIX) by 648.7% during the third quarter, HoldingsChannel.com reports. The firm owned 52,849 shares of the company’s stock after acquiring an additional 45,790 shares during the quarter. Point72 Asset Management L.P.’s holdings in Six Flags Entertainment were worth $2,684,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SIX. Aurora Investment Counsel raised its holdings in Six Flags Entertainment by 0.6% in the 2nd quarter. Aurora Investment Counsel now owns 36,707 shares of the company’s stock worth $1,939,000 after acquiring an additional 223 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Six Flags Entertainment by 8.0% in the 2nd quarter. Victory Capital Management Inc. now owns 3,115 shares of the company’s stock worth $155,000 after purchasing an additional 232 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Six Flags Entertainment by 1.9% in the third quarter. Chesley Taft & Associates LLC now owns 13,445 shares of the company’s stock worth $683,000 after purchasing an additional 250 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its holdings in shares of Six Flags Entertainment by 10.0% during the third quarter. San Francisco Sentry Investment Group CA now owns 3,515 shares of the company’s stock valued at $179,000 after purchasing an additional 320 shares in the last quarter. Finally, JT Stratford LLC lifted its holdings in shares of Six Flags Entertainment by 8.9% during the third quarter. JT Stratford LLC now owns 4,855 shares of the company’s stock valued at $247,000 after purchasing an additional 395 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

In related news, Director Richard Roedel purchased 5,662 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $44.13 per share, for a total transaction of $249,864.06. Following the completion of the transaction, the director now directly owns 16,738 shares in the company, valued at $738,647.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jon L. Luther acquired 2,175 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $45.88 per share, with a total value of $99,789.00. Following the completion of the purchase, the director now directly owns 63,417 shares of the company’s stock, valued at $2,909,571.96. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,787 shares of company stock valued at $850,397. 5.90% of the stock is currently owned by company insiders.

A number of brokerages have recently commented on SIX. B. Riley lifted their price target on shares of Six Flags Entertainment from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. KeyCorp reiterated a “buy” rating and set a $57.00 price objective (down previously from $62.00) on shares of Six Flags Entertainment in a research report on Friday, October 25th. They noted that the move was a valuation call. SunTrust Banks lowered their target price on Six Flags Entertainment to $54.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. They noted that the move was a valuation call. Wedbush reduced their target price on shares of Six Flags Entertainment from $62.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, ValuEngine upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $60.33.

Six Flags Entertainment stock opened at $42.75 on Wednesday. Six Flags Entertainment Corp has a 52-week low of $40.72 and a 52-week high of $64.28. The firm’s fifty day moving average is $45.23 and its 200 day moving average is $51.01. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 2.49 and a beta of 0.93.

Six Flags Entertainment (NYSE:SIX) last posted its earnings results on Tuesday, October 22nd. The company reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.19). The business had revenue of $621.18 million during the quarter, compared to the consensus estimate of $643.90 million. Six Flags Entertainment had a negative return on equity of 38.61% and a net margin of 18.02%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. As a group, sell-side analysts anticipate that Six Flags Entertainment Corp will post 2.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $3.32 annualized dividend and a yield of 7.77%. Six Flags Entertainment’s dividend payout ratio is currently 102.79%.

Six Flags Entertainment Company Profile

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.

Further Reading: Cost of equity and a company’s balance sheet

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

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