JPMorgan Chase & Co. Cuts Six Flags Entertainment (NYSE:FUN) Price Target to $22.00

Six Flags Entertainment (NYSE:FUN) had its target price cut by JPMorgan Chase & Co. from $26.00 to $22.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

FUN has been the topic of several other research reports. UBS Group upped their price objective on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Guggenheim lowered their target price on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Barclays dropped their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Mizuho set a $10.00 price target on shares of Six Flags Entertainment and gave the company an “underperform” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.93.

Six Flags Entertainment Trading Up 1.4%

Six Flags Entertainment stock opened at $16.67 on Tuesday. The stock has a 50-day moving average of $19.87 and a two-hundred day moving average of $18.83. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42. Six Flags Entertainment has a one year low of $12.51 and a one year high of $27.37. The stock has a market cap of $1.71 billion, a PE ratio of -0.96 and a beta of 0.40.

Insider Activity

In other news, Director Marilyn G. Spiegel acquired 2,500 shares of Six Flags Entertainment stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the purchase, the director directly owned 15,161 shares in the company, valued at $289,575.10. This trade represents a 19.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Reilly acquired 15,713 shares of Six Flags Entertainment stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer owned 297,736 shares of the company’s stock, valued at approximately $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 268,213 shares of company stock valued at $6,183,515. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Six Flags Entertainment in the 2nd quarter valued at $339,057,000. UBS Group AG increased its stake in shares of Six Flags Entertainment by 533.4% in the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock worth $80,991,000 after acquiring an additional 4,446,104 shares during the period. Rush Island Management LP purchased a new position in shares of Six Flags Entertainment during the second quarter worth $115,454,000. Morgan Stanley raised its holdings in shares of Six Flags Entertainment by 62.1% during the fourth 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, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Six Flags Entertainment during the fourth quarter valued at $36,661,000. 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.