Six Flags Entertainment (NYSE:FUN) Stock Price Down 8.3% – Here’s What Happened

Shares of Six Flags Entertainment Corporation (NYSE:FUN) were down 8.3% during mid-day trading on Monday . The company traded as low as $22.92 and last traded at $22.87. 1,386,256 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 2,102,686 shares. The stock had previously closed at $24.94.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FUN shares. Weiss Ratings lowered Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Guggenheim lowered their price target on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 13th. The Goldman Sachs Group upped their price target on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Barclays raised their price objective on shares of Six Flags Entertainment from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Six Flags Entertainment has a consensus rating of “Hold” and a consensus target price of $25.15.

Six Flags Entertainment Price Performance

The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 19.13. The company has a market capitalization of $2.33 billion, a P/E ratio of -1.40 and a beta of 0.38. The firm has a fifty day moving average of $20.61 and a 200 day moving average of $17.88.

Six Flags Entertainment (NYSE:FUN) last released its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, beating the consensus estimate of ($2.71) by $0.06. The company had revenue of $225.63 million for the quarter, compared to the consensus estimate of $207.49 million. Six Flags Entertainment had a positive return on equity of 5.17% and a negative net margin of 52.76%. On average, equities research analysts anticipate that Six Flags Entertainment Corporation will post -0.28 EPS for the current year.

Insider Activity

In related news, Director Marilyn G. Spiegel purchased 2,500 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the transaction, the director directly owned 15,161 shares in the company, valued at $289,575.10. This represents a 19.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard M. Haddrill acquired 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $19.08 per share, with a total value of $190,800.00. Following the completion of the purchase, the insider directly owned 230,117 shares of the company’s stock, valued at $4,390,632.36. This trade represents a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 265,000 shares of company stock worth $6,173,850. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors have recently modified their holdings of FUN. UBS Group AG raised its stake 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 buying an additional 4,446,104 shares during the last quarter. JANA Partners Management LP acquired a new stake in Six Flags Entertainment in the 3rd quarter worth approximately $92,015,000. Rush Island Management LP acquired a new stake in Six Flags Entertainment in the 2nd quarter worth approximately $115,454,000. Morgan Stanley grew its position in Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after purchasing an additional 3,629,445 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in Six Flags Entertainment during the 3rd quarter valued at approximately $70,764,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Six Flags Entertainment Company Profile

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.