StockNews.com Initiates Coverage on Six Flags Entertainment (NYSE:SIX)

Equities researchers at StockNews.com assumed coverage on shares of Six Flags Entertainment (NYSE:SIX) in a research note issued on Wednesday. The brokerage set a “hold” rating on the stock.

SIX has been the subject of a number of other research reports. B. Riley upgraded Six Flags Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $31.00 in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.42.

Six Flags Entertainment Stock Performance

Shares of SIX opened at $32.00 on Wednesday. The firm has a market cap of $2.70 billion, a P/E ratio of 100.00 and a beta of 2.33. Six Flags Entertainment has a fifty-two week low of $18.29 and a fifty-two week high of $34.06. The business has a 50-day moving average of $28.42 and a 200 day moving average of $26.11.

Six Flags Entertainment (NYSE:SIX) last issued its earnings results on Thursday, May 9th. The company reported ($0.91) EPS for the quarter, hitting the consensus estimate of ($0.91). Six Flags Entertainment had a negative return on equity of 6.61% and a net margin of 1.84%. The business had revenue of $133.29 million during the quarter, compared to the consensus estimate of $135.23 million. As a group, research analysts predict that Six Flags Entertainment will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, CAO Derek Sample sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $26.44, for a total transaction of $60,812.00. Following the completion of the transaction, the chief accounting officer now owns 12,805 shares of the company’s stock, valued at $338,564.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in shares of Six Flags Entertainment by 527.2% during the 4th quarter. National Bank of Canada FI now owns 1,129 shares of the company’s stock valued at $28,000 after acquiring an additional 949 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Six Flags Entertainment in the fourth quarter worth approximately $98,000. Quest Partners LLC bought a new stake in Six Flags Entertainment in the 4th quarter worth approximately $135,000. Contravisory Investment Management Inc. bought a new stake in Six Flags Entertainment in the 1st quarter worth approximately $145,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Six Flags Entertainment by 16.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,193 shares of the company’s stock valued at $321,000 after buying an additional 1,681 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company sells food, beverages, merchandise, and other products and services within its parks.