Six Flags Entertainment (NYSE:FUN) Trading Down 7.2% – Time to Sell?

Six Flags Entertainment Corporation (NYSE:FUN) traded down 7.2% during mid-day trading on Monday . The stock traded as low as $20.48 and last traded at $20.4150. Approximately 987,136 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 2,133,585 shares. The stock had previously closed at $22.01.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on Six Flags Entertainment from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Citizens Jmp began coverage on Six Flags Entertainment in a research report on Monday. They issued a “market outperform” rating and a $29.00 price target for the company. Guggenheim dropped their price target on Six Flags Entertainment from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. upgraded 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. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Six Flags Entertainment currently has an average rating of “Moderate Buy” and an average price target of $25.43.

Six Flags Entertainment Stock Down 6.3%

The firm has a 50-day moving average of $20.90 and a two-hundred day moving average of $18.14. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -1.26 and a beta of 0.38. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 19.13.

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 firm had revenue of $225.63 million during the quarter, compared to analyst estimates of $207.49 million. As a group, sell-side analysts anticipate that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard M. Haddrill bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $19.08 per share, with a total value of $190,800.00. Following the purchase, the insider directly owned 230,117 shares of the company’s stock, valued at approximately $4,390,632.36. This represents a 4.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marilyn G. Spiegel purchased 2,500 shares of the stock in a transaction dated Thursday, May 21st. The shares were bought at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the acquisition, the director 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 SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 265,000 shares of company stock worth $6,173,850. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Six Flags Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FUN. CoreCap Advisors LLC increased its holdings in Six Flags Entertainment by 145.5% in the fourth quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock worth $25,000 after buying an additional 975 shares during the last quarter. Atlas Wealth LLC acquired a new stake in Six Flags Entertainment in the first quarter valued at approximately $26,000. Danske Bank A S bought a new stake in Six Flags Entertainment in the third quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in Six Flags Entertainment in the fourth quarter worth approximately $28,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.