Six Flags Entertainment (NYSE:SIX) shares fell 5.4% after analyst downgrade

Six Flags Entertainment Co. (NYSE:SIX – Get Rating) shares fell 5.4% during Thursday trading after Credit Suisse Group lowered its price target on the stock to $39.00. The stock has traded as low as $21.68 and last traded at $21.71. 15,179 shares changed hands during trading, down 99% from the average trading volume of 2,901,298 shares. The stock had previously closed at $22.96.

A number of other brokerage houses also recently commented on SIX. Deutsche Bank Aktiengesellschaft lowered its target price on shares of Six Flags Entertainment to $29.00 from $32.00 in a report on Friday, November 11. KeyCorp downgraded shares of Six Flags Entertainment from an “overweight” rating to a “sector weight” rating in a report on Friday, August 12. B. Riley lowered its target price on shares of Six Flags Entertainment from $24.00 to $23.00 and gave the company a neutral rating in a report on Monday, October 31. Stifel Nicolaus lowered his target price on shares of Six Flags Entertainment from $30.00 to $27.00 in a report on Friday, November 11. Finally, William Blair downgraded shares of Six Flags Entertainment from a rating of “outperform” to a rating of “market perform” and raised the target price on the stock to $22.00 in a research note on Friday, November 11 $47.00. Seven research analysts have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Six Flags Entertainment currently has an average rating of Hold and a consensus price target of $30.58.

Insider Transactions at Six Flags Entertainment

In related news, Director Arik W. Ruchim bought 50,000 shares of Six Flags Entertainment in a transaction on Wednesday, September 14th. The shares were purchased at an average price of $22.05 per share for a total value of $1,102,500.00. Upon completion of the transaction, the Director now owns 10,700,000 shares of the Company valued at approximately $235,935,000. The purchase was disclosed in a filing with the SEC, which can be accessed at this link. In other news from Six Flags Entertainment, director Arik W. Ruchim acquired 150,000 shares of the company’s stock in a transaction that took place on Monday, November 14th. The shares were purchased at an average price of $23.62 per share for a total value of $3,543,000.00. Upon the completion of the acquisition, the Director now directly owns 11,250,000 shares of the Company valued at approximately $265,725,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission available at this link. In addition, Director Arik W. Ruchim acquired 50,000 shares of the company’s stock in a transaction that took place on Wednesday, September 14th. The shares were acquired at an average price of $22.05 per share for a total transaction of $1,102,500.00. Upon completion of the acquisition, the Director now owns 10,700,000 shares of the Company valued at $235,935,000. The disclosure for this purchase can be found here. Over the past three months, insiders have bought 1,254,175 shares of the company’s shares, valued at $29,348,399. 0.41% of the shares are currently owned by company insiders.

Hedge funds rely on Six Flags Entertainment

Several institutional investors have recently bought and sold SIX shares. Long Pond Capital LP increased its stake in Six Flags Entertainment by 503.5% in the third quarter. Long Pond Capital LP now owns 4,716,813 shares of the company’s stock valued at $83,488,000 after purchasing an additional 3,935,291 shares during the period. HG Vora Capital Management LLC acquired a new position in Six Flags Entertainment valued at $61,950,000 during the third quarter. BlackRock Inc. increased its stake in Six Flags Entertainment by 45.7% in the third quarter. BlackRock Inc. now owns 9,918,652 shares of the company’s stock valued at $175,559,000 after purchasing an additional 3,108,978 shares last quarter. Clearbridge Investments LLC increased its stake in Six Flags Entertainment by 242.2% in the first quarter. Clearbridge Investments LLC now owns 2,297,340 shares of the company’s stock valued at $99,934,000 after purchasing an additional 1,625,966 shares last quarter. Finally, Waratah Capital Advisors Ltd. its stake in Six Flags Entertainment increased by 957.4% in the second quarter. Waratah Capital Advisors Ltd. now owns 1,214,132 shares of the company’s shares valued at $26,317,000 after purchasing an additional 1,099,305 shares last quarter. 92.10% of the shares are owned by hedge funds and other institutional investors.

Six Flags Entertainment value for money

The company’s 50-day simple moving average is $20.79 and its 200-day simple moving average is $23.71. The company has a market cap of $1.82 billion, a P/E of 20.14 and a beta of 2.20.

Corporate Profile of Six Flags Entertainment

(received rating)

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. Its parks offer a variety of rides, water attractions, themed areas, concerts and shows, restaurants, gaming venues, and retail outlets. The Company also sells food, beverages, merchandise and other products and services at its parks.

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