Six Flags Entertainment (NYSE:FUN) Shares Down 5.9% – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) fell 5.9% during mid-day trading on Monday . The company traded as low as $14.67 and last traded at $14.72. 877,174 shares were traded during trading, a decline of 70% from the average session volume of 2,921,558 shares. The stock had previously closed at $15.64.

Analysts Set New Price Targets

FUN has been the topic of a number of research reports. Mizuho decreased their price target on shares of Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. Zacks Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Six Flags Entertainment in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, Citigroup decreased their price target on shares of Six Flags Entertainment from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.29.

Six Flags Entertainment Stock Performance

The stock has a market cap of $1.50 billion, a P/E ratio of -0.83 and a beta of 0.39. The company has a debt-to-equity ratio of 8.16, a current ratio of 0.58 and a quick ratio of 0.48. The stock has a 50-day simple moving average of $19.34 and a 200-day simple moving average of $25.17.

Six Flags Entertainment (NYSE:FUN) last released its quarterly earnings data on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.34 billion. Six Flags Entertainment had a positive return on equity of 9.64% and a negative net margin of 56.44%.Six Flags Entertainment’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.21 earnings per share. Research analysts forecast that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Six Flags Entertainment

Several hedge funds have recently added to or reduced their stakes in FUN. Vanguard Group Inc. lifted its holdings in shares of Six Flags Entertainment by 0.5% during the third quarter. Vanguard Group Inc. now owns 10,067,759 shares of the company’s stock worth $228,739,000 after purchasing an additional 53,111 shares during the period. Darlington Partners Capital Management LP increased its stake in shares of Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock valued at $264,741,000 after buying an additional 1,460,000 shares during the period. Dendur Capital LP raised its position in shares of Six Flags Entertainment by 41.1% during the second quarter. Dendur Capital LP now owns 4,433,500 shares of the company’s stock worth $134,911,000 after acquiring an additional 1,292,500 shares during the last quarter. JANA Partners Management LP acquired a new position in shares of Six Flags Entertainment in the third quarter worth approximately $92,015,000. Finally, Rush Island Management LP bought a new stake in Six Flags Entertainment in the second quarter valued at approximately $115,454,000. 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.