Six Flags Entertainment (NYSE:FUN) Trading Down 5.8% – Here’s What Happened

Shares of Six Flags Entertainment Corporation (NYSE:FUN) dropped 5.8% during mid-day trading on Monday . The stock traded as low as $15.26 and last traded at $15.28. Approximately 477,765 shares were traded during trading, a decline of 78% from the average session volume of 2,151,570 shares. The stock had previously closed at $16.22.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FUN shares. Zacks Research downgraded Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Oppenheimer lowered their price objective on Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Six Flags Entertainment in a research note on Wednesday, August 12th. Finally, UBS Group raised their price target on Six Flags Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.93.

Six Flags Entertainment Trading Down 5.2%

The stock’s fifty day moving average price is $17.97 and its 200 day moving average price is $18.66. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The stock has a market cap of $1.46 billion, a PE ratio of -0.82 and a beta of 0.38.

Insider Buying and Selling at Six Flags Entertainment

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of Six Flags Entertainment stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John T. Reilly purchased 15,713 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $15.80 per share, with a total value of $248,265.40. Following the purchase, the chief executive officer directly owned 297,736 shares of the company’s stock, valued at approximately $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have acquired 265,713 shares of company stock worth $6,135,765. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 586 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the last quarter. Invesco Ltd. grew its stake in shares of 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 acquiring an additional 5,775 shares during the period. State Street Corp grew its stake in shares of Six Flags Entertainment by 0.8% in the second quarter. State Street Corp now owns 3,465,487 shares of the company’s stock worth $105,455,000 after acquiring an additional 27,848 shares during the period. Finally, Qube Research & Technologies Ltd raised 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 valued at $19,836,000 after purchasing an additional 465,572 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.

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.