Six Flags Entertainment (NYSE:FUN) Shares Down 6.1% – Should You Sell?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) dropped 6.1% on Friday . The company traded as low as $17.91 and last traded at $17.81. 783,701 shares traded hands during trading, a decline of 64% from the average session volume of 2,155,325 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

FUN has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Oppenheimer cut 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. Barclays lifted their target price on Six Flags Entertainment from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Finally, Truist Financial lifted their price objective on shares of Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.07.

Six Flags Entertainment Stock 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 stock has a market cap of $1.80 billion, a P/E ratio of -1.08 and a beta of 0.38. The company has a fifty day moving average of $21.06 and a 200 day moving average of $18.64.

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

Insider Buying and Selling

In related news, Director Rehan Jaffer bought 125,000 shares of Six Flags Entertainment stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $23.41 per share, for a total transaction of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares in the company, valued at $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard M. Haddrill acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $19.08 per share, for a total transaction 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 position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 265,000 shares of company stock worth $6,173,850. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

A number of hedge funds have recently made changes to their positions in FUN. Northwestern Mutual Wealth Management Co. boosted its stake in Six Flags Entertainment by 259.7% in the second 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 in the last quarter. Danske Bank A S bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at about $27,000. Atlas Wealth LLC bought a new position in Six Flags Entertainment during the first quarter worth about $26,000. CoreCap Advisors LLC grew its position in shares of Six Flags Entertainment by 145.5% in the 4th quarter. CoreCap Advisors LLC now owns 1,645 shares of the company’s stock valued at $25,000 after purchasing an additional 975 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Six Flags Entertainment during the fourth quarter worth $28,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.