Six Flags Entertainment (NYSE:FUN) Trading 8.9% Higher – Here’s What Happened

Six Flags Entertainment Corporation (NYSE:FUN) shares shot up 8.9% during mid-day trading on Monday . The stock traded as high as $22.27 and last traded at $22.5560. 428,385 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,083,082 shares. The stock had previously closed at $20.72.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FUN. Truist Financial boosted their price objective on shares of Six Flags Entertainment from $23.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Zacks Research upgraded shares of Six Flags Entertainment from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Oppenheimer reduced their price objective on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded shares of Six Flags Entertainment from an “underweight” rating to a “neutral” rating and set a $26.00 price objective on the stock in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Six Flags Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $24.85.

Six Flags Entertainment Price Performance

The company has a debt-to-equity ratio of 19.13, a current ratio of 0.68 and a quick ratio of 0.62. The company has a market capitalization of $2.31 billion, a PE ratio of -1.38 and a beta of 0.38. The stock’s 50 day simple moving average is $19.34 and its 200-day simple moving average is $17.21.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($2.65) EPS for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.06. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%.The business had revenue of $225.63 million during the quarter, compared to the consensus estimate of $207.49 million. As a group, equities analysts forecast that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Six Flags Entertainment

In related news, insider Richard M. Haddrill acquired 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the transaction, the insider owned 230,117 shares in the company, valued at $4,390,632.36. This represents a 4.54% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marilyn G. Spiegel acquired 2,500 shares of the stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the transaction, the director owned 15,161 shares of the company’s stock, valued at approximately $289,575.10. This represents a 19.75% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 15,000 shares of company stock valued at $286,350. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 buying an additional 53,111 shares in the last quarter. Morgan Stanley boosted its holdings in Six Flags Entertainment by 62.1% in the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock valued at $145,324,000 after purchasing an additional 3,629,445 shares in the last quarter. Darlington Partners Capital Management LP boosted its holdings in 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 purchasing an additional 1,460,000 shares in the last quarter. UBS Group AG boosted its holdings in Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock valued at $80,991,000 after purchasing an additional 4,446,104 shares in the last quarter. Finally, Dendur Capital LP boosted its holdings in Six Flags Entertainment by 6.2% in the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock valued at $75,987,000 after purchasing an additional 290,000 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.