Six Flags Entertainment (NYSE:FUN) Stock Price Target Lowered at The Goldman Sachs Group

Six Flags Entertainment (NYSE:FUN) had its target price reduced by equities researchers at The Goldman Sachs Group from $15.00 to $6.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group‘s target price would suggest a potential downside of 11.56% from the company’s current price.

Several other brokerages have also issued reports on FUN. JPMorgan Chase & Co. decreased their target price on Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Six Flags Entertainment in a report on Wednesday, August 12th. Citizens Jmp cut their price target on shares of Six Flags Entertainment from $24.00 to $14.00 and set a “market outperform” rating on the stock in a report on Thursday. Mizuho set a $5.00 price target on shares of Six Flags Entertainment in a research report on Wednesday. Finally, Zacks Research upgraded shares of Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.92.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock opened at $6.78 on Monday. The business’s fifty day simple moving average is $12.71 and its 200 day simple moving average is $17.28. The firm has a market capitalization of $694.14 million, a P/E ratio of -0.39 and a beta of 0.45. Six Flags Entertainment has a 12 month low of $6.75 and a 12 month high of $27.37. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34.

Six Flags Entertainment (NYSE:FUN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.15). The business had revenue of $864.92 million during the quarter, compared to analysts’ expectations of $928.36 million. Six Flags Entertainment had a positive return on equity of 7.43% and a negative net margin of 57.25%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. As a group, analysts anticipate that Six Flags Entertainment will post -0.91 EPS for the current year.

Insider Activity at Six Flags Entertainment

In related news, CEO John Reilly purchased 15,713 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer owned 297,736 shares of the company’s stock, valued at $4,704,228.80. This trade represents a 5.57% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Six Flags Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of FUN. BlackRock Inc. purchased a new stake in Six Flags Entertainment in the second quarter worth $339,057,000. Kanen Wealth Management LLC bought a new stake in shares of Six Flags Entertainment in the first quarter valued at $15,063,000. Bank of New York Mellon Corp purchased a new position in shares of Six Flags Entertainment during the 2nd quarter valued at $11,975,000. Principal Financial Group Inc. lifted its position in shares of Six Flags Entertainment by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 495,349 shares of the company’s stock valued at $8,792,000 after buying an additional 10,760 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Six Flags Entertainment during the 2nd quarter valued at $10,348,000. 64.65% of the stock is owned by institutional investors.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott’s Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.