Six Flags Entertainment (NYSE:FUN) Rating Lowered to “Strong Sell” at Zacks Research

Six Flags Entertainment (NYSE:FUN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

FUN has been the subject of several other reports. Oppenheimer reduced their price target on Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Northcoast Research assumed coverage on Six Flags Entertainment in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. Stifel Nicolaus set a $23.00 price objective on Six Flags Entertainment in a research note on Friday, August 7th. UBS Group increased their price objective on Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Barclays decreased their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.93.

Six Flags Entertainment Price Performance

Shares of NYSE FUN opened at $16.39 on Tuesday. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. The business has a 50-day moving average of $19.96 and a 200-day moving average of $18.84. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -0.95 and a beta of 0.40. Six Flags Entertainment has a fifty-two week low of $12.51 and a fifty-two week high of $27.37.

Insider Activity

In other Six Flags Entertainment news, CEO John T. Reilly bought 15,713 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $15.80 per share, for a total transaction of $248,265.40. Following the transaction, the chief executive officer directly owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marilyn G. Spiegel bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $19.10 per share, with a total value of $47,750.00. Following the purchase, the director directly owned 15,161 shares of the company’s stock, valued at $289,575.10. This trade represents a 19.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 268,213 shares of company stock valued at $6,183,515 in the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Six Flags Entertainment

Several hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Six Flags Entertainment in the 2nd quarter valued at $1,102,000. Landscape Capital Management L.L.C. bought a new position in Six Flags Entertainment during the second quarter worth $3,415,000. Allworth Financial LP acquired a new stake in Six Flags Entertainment in the second quarter worth $35,000. BlackRock Inc. acquired a new stake in Six Flags Entertainment in the second quarter worth $339,057,000. Finally, Deutsche Bank AG bought a new position in shares of Six Flags Entertainment in the second quarter valued at approximately $2,317,000. Institutional investors own 64.65% of the company’s stock.

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.