Morgan Stanley Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $43.00

Six Flags Entertainment (NYSE:FUN) had its target price decreased by Morgan Stanley from $47.00 to $43.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts have also commented on FUN. Wall Street Zen lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Truist Financial cut their target price on shares of Six Flags Entertainment from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus cut their target price on shares of Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, July 18th. UBS Group cut their target price on shares of Six Flags Entertainment from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Six Flags Entertainment from $46.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.40.

Six Flags Entertainment Trading Down 20.7%

Shares of NYSE:FUN opened at $24.35 on Monday. The company has a 50 day moving average price of $30.98 and a 200 day moving average price of $35.80. Six Flags Entertainment has a 1-year low of $21.44 and a 1-year high of $49.77. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.28 and a current ratio of 0.37. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.76 and a beta of 0.82.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($2.01). Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The firm had revenue of $930.39 million during the quarter, compared to analyst estimates of $999.82 million. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. On average, research analysts anticipate that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Insider Transactions at Six Flags Entertainment

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the sale, the director directly owned 7,162 shares in the company, valued at $271,368.18. This trade represents a 45.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock worth $55,000 after purchasing an additional 884 shares during the last quarter. ORG Wealth Partners LLC boosted its position in shares of Six Flags Entertainment by 45.8% during the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company’s stock valued at $102,000 after acquiring an additional 1,002 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Six Flags Entertainment by 42.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $175,000 after acquiring an additional 1,717 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in shares of Six Flags Entertainment by 9.2% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company’s stock valued at $217,000 after acquiring an additional 600 shares in the last quarter. Finally, Castleview Partners LLC acquired a new stake in shares of Six Flags Entertainment during the 2nd quarter valued at about $239,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Six Flags Entertainment Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.