Six Flags Entertainment (NYSE:SIX) Trading 23.3% Higher

Six Flags Entertainment Corp (NYSE:SIX)’s share price traded up 23.3% during mid-day trading on Wednesday . The company traded as high as $13.87 and last traded at $15.96, 400,536 shares were traded during mid-day trading. A decline of 91% from the average session volume of 4,530,822 shares. The stock had previously closed at $12.94.

A number of research analysts have issued reports on the stock. Wedbush dropped their target price on shares of Six Flags Entertainment from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, February 21st. KeyCorp dropped their target price on shares of Six Flags Entertainment from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Wells Fargo & Co dropped their target price on shares of Six Flags Entertainment from to and set an “underweight” rating for the company in a report on Friday, February 21st. Janney Montgomery Scott cut shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Friday, January 10th. Finally, Stifel Nicolaus dropped their price objective on shares of Six Flags Entertainment from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.30.

The stock’s 50 day moving average price is $25.98 and its two-hundred day moving average price is $40.70. The firm has a market capitalization of $1.10 billion, a PE ratio of 7.42, a PEG ratio of 1.14 and a beta of 1.27.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.30). Six Flags Entertainment had a negative return on equity of 26.50% and a net margin of 12.04%. The business had revenue of $261.00 million for the quarter, compared to analysts’ expectations of $260.11 million. During the same period last year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Six Flags Entertainment Corp will post 1.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.42%. Six Flags Entertainment’s dividend payout ratio (DPR) is 44.64%.

In other news, CEO Mike Spanos bought 16,075 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $31.27 per share, with a total value of $502,665.25. Following the purchase, the chief executive officer now owns 70,456 shares of the company’s stock, valued at $2,203,159.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arik W. Ruchim bought 600,000 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $30.88 per share, with a total value of $18,528,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,494,016 shares of company stock valued at $41,264,882. Corporate insiders own 5.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in Six Flags Entertainment by 11.6% in the 4th quarter. Capital Research Global Investors now owns 7,946,163 shares of the company’s stock worth $358,451,000 after acquiring an additional 823,603 shares during the period. State Street Corp grew its stake in Six Flags Entertainment by 5.0% in the 3rd quarter. State Street Corp now owns 1,910,602 shares of the company’s stock worth $97,039,000 after acquiring an additional 90,282 shares during the period. Bank of New York Mellon Corp grew its stake in Six Flags Entertainment by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,617,431 shares of the company’s stock worth $72,963,000 after acquiring an additional 101,284 shares during the period. River Road Asset Management LLC grew its stake in Six Flags Entertainment by 171.5% in the 4th quarter. River Road Asset Management LLC now owns 1,554,699 shares of the company’s stock worth $70,132,000 after acquiring an additional 981,975 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Six Flags Entertainment by 1,034.2% in the 4th quarter. Renaissance Technologies LLC now owns 999,200 shares of the company’s stock worth $45,074,000 after acquiring an additional 911,100 shares during the period. 80.45% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment (NYSE:SIX)

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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