Six Flags Entertainment (NYSE:SIX) shares fall 3.6%

Six Flags Entertainment Co. (NYSE: SIX – Get a rating) fell 3.6% in Tuesday’s session. The company traded as low as $21.16 and last traded at $21.18. Approximately 72,743 shares were traded during trading, down 97% from the average daily volume of 2,576,087 shares. The stock had previously closed at $21.98.

SIX has been the subject of a number of research analyst reports. Truist Financial reduced its target price on Six Flags Entertainment from $46.00 to $32.00 in a Friday, May 13 report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Six Flags Entertainment from $57.00 to $56.00 in a Friday, May 13 research note. B. Riley downgraded Six Flags Entertainment shares from a “buy” rating to a “neutral” rating and lowered his price target for the stock from $55.00 to $24.00 in a research note tuesday. Rosenblatt Securities began covering Six Flags Entertainment stocks in a research report on Monday, April 25. They set a “buy” rating and a target price of $56.00 on the stock. To finish, StockNews.com began covering Six Flags Entertainment stocks in a report on Thursday, March 31. They set a “holding” rating for the company. Two analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat.com, Six Flags Entertainment has a consensus rating of “Moderate Buy” and an average target price of $46.44.

The company’s 50-day moving average is $32.24 and its two-hundred-day moving average is $38.32. The company has a market capitalization of $1.85 billion, a P/E ratio of 12.01 and a beta of 2.24.

Six Flags Entertainment (NYSE: SIX – Get a rating) last reported results on Thursday, May 12. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.31. Six Flags Entertainment achieved a net margin of 10.31% and a negative return on equity of 15.34%. The company posted revenue of $138.10 million in the quarter, compared to $122.26 million expected by analysts. In the same quarter last year, the company made ($1.12) earnings per share. The company’s revenue increased 68.4% year over year. As a group, research analysts expect Six Flags Entertainment Co. to post EPS of 2.55 for the current fiscal year.

In other Six Flags Entertainment news, Chief Financial Officer Gary Mick purchased 1,325 shares of the company in a trade on Wednesday, June 15. The stock was purchased at an average price of $23.82 per share, for a total transaction of $31,561.50. Following the completion of the purchase, the CFO now directly owns 30,000 shares of the company, valued at $714,600. The purchase was disclosed in a document filed with the SEC, accessible via the SEC website. Also, director Arik W. Ruchim bought 25,000 shares of the company in a trade on Thursday, May 26. The shares were acquired at an average price of $29.78 per share, with a total value of $744,500.00. Following the purchase, the director now owns 9,375,000 shares of the company, valued at $279,187,500. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 553,325 shares of the company worth $16,049,162. 0.41% of the shares are held by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SIX. Wells Fargo & Company MN increased its equity stake in Six Flags Entertainment by 26.8% during the second quarter. Wells Fargo & Company MN now owns 26,855 shares of the company worth $1,161,000 after purchasing an additional 5,681 shares last quarter. Morgan Stanley increased its equity stake in Six Flags Entertainment by 24.5% during the second quarter. Morgan Stanley now owns 557,993 shares of the company worth $24,150,000 after buying an additional 109,682 shares last quarter. Dimensional Fund Advisors LP increased its holdings of Six Flags Entertainment stock by 14.2% during the third quarter. Dimensional Fund Advisors LP now owns 17,895 shares of the company worth $761,000 after buying 2,219 additional shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Six Flags Entertainment during the third quarter worth approximately $176,000. Finally, Invesco Ltd. increased its equity stake in Six Flags Entertainment by 94.7% during the third quarter. Invesco Ltd. now owns 226,858 shares of the company worth $9,641,000 after purchasing an additional 110,349 shares last quarter. 88.55% of the shares are held by institutional investors.

About Six Flags Entertainment (NYSE: SIX)

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game rooms and retail outlets. The company also sells food, beverages, merchandise, and other products and services at its parks.

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