Six Flags Entertainment (NYSE:FUN) Announces Earnings Results

Six Flags Entertainment (NYSE:FUN) announced its earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.62), Zacks reports. The company had revenue of $650.09 million for the quarter, compared to the consensus estimate of $602.68 million. Six Flags Entertainment had a negative net margin of 56.44% and a positive return on equity of 9.64%. The firm’s revenue was down 5.4% on a year-over-year basis.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock traded up $1.04 during trading on Thursday, hitting $17.26. 1,183,928 shares of the company’s stock were exchanged, compared to its average volume of 2,518,137. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.96 and a beta of 0.39. The business has a 50-day simple moving average of $16.14 and a 200-day simple moving average of $19.51. Six Flags Entertainment has a 52-week low of $12.51 and a 52-week high of $48.80. The company has a debt-to-equity ratio of 8.16, a quick ratio of 0.48 and a current ratio of 0.58.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Creek Drive Management Group LLC acquired a new position in Six Flags Entertainment in the fourth quarter valued at approximately $5,185,000. Empowered Funds LLC acquired a new position in shares of Six Flags Entertainment in the 4th quarter valued at $45,000. XTX Topco Ltd boosted its holdings in Six Flags Entertainment by 115.6% during the fourth quarter. XTX Topco Ltd now owns 21,875 shares of the company’s stock worth $336,000 after buying an additional 11,730 shares in the last quarter. VARCOV Co. acquired a new stake in Six Flags Entertainment during the fourth quarter valued at $337,000. Finally, Saba Capital Management L.P. purchased a new position in Six Flags Entertainment in the fourth quarter valued at $1,534,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FUN. Zacks Research raised Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group lowered their price target on shares of Six Flags Entertainment from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Morgan Stanley set a $17.00 price objective on shares of Six Flags Entertainment in a research note on Thursday, December 18th. Stifel Nicolaus decreased their price objective on Six Flags Entertainment from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating for the company in a research note on Wednesday, November 12th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.86.

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.