Six Flags Entertainment (NYSE:FUN) Hits New 12-Month Low – Here’s Why

Six Flags Entertainment Corporation (NYSE:FUN)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $19.80 and last traded at $19.5970, with a volume of 98545 shares changing hands. The stock had previously closed at $20.38.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. UBS Group dropped their target price on Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Morgan Stanley reduced their price target on Six Flags Entertainment from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Finally, Mizuho set a $28.00 price objective on shares of Six Flags Entertainment in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.07.

Six Flags Entertainment Stock Down 1.8%

The stock has a market cap of $1.83 billion, a P/E ratio of -3.72 and a beta of 0.69. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97. The business has a 50-day simple moving average of $22.62 and a 200-day simple moving average of $28.26.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($14.01). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.34 billion. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.Six Flags Entertainment’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.21 earnings per share. Analysts expect that Six Flags Entertainment Corporation will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Six Flags Entertainment

Several large investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Six Flags Entertainment in the 3rd quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares during the period. Allworth Financial LP increased its holdings in shares of Six Flags Entertainment by 1,179.0% during the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock worth $46,000 after purchasing an additional 1,403 shares during the period. GAMMA Investing LLC raised its position in shares of Six Flags Entertainment by 96.5% during the second quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock valued at $55,000 after buying an additional 884 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in shares of Six Flags Entertainment in the second quarter valued at about $56,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.