Six Flags Entertainment (NYSE:FUN) Shares Gap Up – What’s Next?

Shares of Six Flags Entertainment Corporation (NYSE:FUN) gapped up before the market opened on Tuesday . The stock had previously closed at $14.87, but opened at $15.53. Six Flags Entertainment shares last traded at $15.8750, with a volume of 423,855 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on FUN shares. Citigroup reduced their price objective on Six Flags Entertainment from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut their target price on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price (down previously from $30.00) on shares of Six Flags Entertainment in a research note on Monday, November 10th. Barclays dropped their price target on shares of Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Finally, Oppenheimer reduced their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.29.

Six Flags Entertainment Stock Performance

The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -3.15 and a beta of 0.39. The stock has a 50-day moving average price of $19.87 and a 200 day moving average price of $25.76.

Six Flags Entertainment (NYSE:FUN) last posted its earnings results on Friday, November 7th. The company reported ($11.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($14.01). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $4.21 earnings per share. Six Flags Entertainment’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts anticipate that Six Flags Entertainment Corporation will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Six Flags Entertainment during the 3rd quarter worth about $27,000. Ameritas Advisory Services LLC bought a new position in shares of Six Flags Entertainment during the third quarter worth about $30,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 722 shares in the last quarter. Allworth Financial LP raised its position in Six Flags Entertainment by 1,179.0% in the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company’s stock valued at $46,000 after buying an additional 1,403 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company’s stock valued at $55,000 after acquiring an additional 884 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

Six Flags Entertainment Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.