Six Flags Entertainment (NYSE:FUN) Shares Gap Up After Analyst Upgrade

Six Flags Entertainment Corporation (NYSE:FUN)’s share price gapped up before the market opened on Tuesday after Truist Financial upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $14.87, but opened at $15.53. Truist Financial now has a $23.00 price target on the stock, down from their previous price target of $27.00. Six Flags Entertainment shares last traded at $15.8750, with a volume of 423,855 shares trading hands.

A number of other research firms also recently issued reports on FUN. JPMorgan Chase & Co. reduced their price target on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Mizuho cut their target price on shares of Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (down from $30.00) on shares of Six Flags Entertainment in a research report on Monday, November 10th. UBS Group reiterated a “buy” rating on shares of Six Flags Entertainment in a research note on Friday, November 21st. Finally, Jefferies Financial Group lowered Six Flags Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $41.00 to $25.00 in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FUN. Veracity Capital LLC increased its position in Six Flags Entertainment by 20.0% during the second quarter. Veracity Capital LLC now owns 25,282 shares of the company’s stock valued at $769,000 after acquiring an additional 4,214 shares during the last quarter. Balefire LLC boosted its stake in shares of Six Flags Entertainment by 73.7% during the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock worth $2,786,000 after purchasing an additional 38,832 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company’s stock worth $287,000 after purchasing an additional 484 shares during the period. Contravisory Investment Management Inc. grew its holdings in 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 purchasing an additional 1,717 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after purchasing an additional 335 shares during the period. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Trading Down 0.6%

The company’s 50 day simple moving average is $19.58 and its 200-day simple moving average is $25.53. The firm has a market cap of $1.55 billion, a P/E ratio of -0.86 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.58 and a debt-to-equity ratio of 8.16.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Friday, November 7th. The company reported ($11.77) earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Six Flags Entertainment had a positive return on equity of 9.64% and a negative net margin of 56.44%.The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.21 EPS. As a group, research analysts predict that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current fiscal year.

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.