Lee Danner & Bass Inc. Invests $2.09 Million in Six Flags Entertainment Corporation $FUN

Lee Danner & Bass Inc. bought a new stake in Six Flags Entertainment Corporation (NYSE:FUN) in the first quarter, Holdings Channel reports. The institutional investor bought 117,698 shares of the company’s stock, valued at approximately $2,089,000.

Several other institutional investors and hedge funds have also modified their holdings of FUN. Russell Investments Group Ltd. increased its holdings in Six Flags Entertainment by 26.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares in the last quarter. 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. Invesco Ltd. boosted its stake in Six Flags Entertainment by 2.5% in the second quarter. Invesco Ltd. now owns 236,798 shares of the company’s stock worth $7,206,000 after purchasing an additional 5,775 shares in the last quarter. State Street Corp grew its holdings in shares of Six Flags Entertainment by 0.8% during the second quarter. State Street Corp now owns 3,465,487 shares of the company’s stock worth $105,455,000 after purchasing an additional 27,848 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Six Flags Entertainment by 249.9% during the second quarter. Qube Research & Technologies Ltd now owns 651,844 shares of the company’s stock worth $19,836,000 after purchasing an additional 465,572 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Richard M. Haddrill acquired 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $19.08 per share, with a total value of $190,800.00. Following the acquisition, the insider 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marilyn G. Spiegel bought 2,500 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the transaction, the director owned 15,161 shares in the company, valued at approximately $289,575.10. This trade represents a 19.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 265,000 shares of company stock worth $6,173,850 over the last three months. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FUN shares. Weiss Ratings cut Six Flags Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Citizens Jmp initiated coverage on shares of Six Flags Entertainment in a report on Monday, June 29th. They set a “market outperform” rating and a $29.00 price objective on the stock. Oppenheimer lowered their price objective on shares of Six Flags Entertainment from $40.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Zacks Research downgraded shares of Six Flags Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Six Flags Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $25.43.

Six Flags Entertainment Stock Up 0.0%

NYSE FUN opened at $20.99 on Friday. The stock has a market capitalization of $2.15 billion, a P/E ratio of -1.29 and a beta of 0.38. Six Flags Entertainment Corporation has a 52 week low of $12.51 and a 52 week high of $33.50. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. The stock has a fifty day moving average of $21.05 and a 200-day moving average of $18.32.

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

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.