Six Flags Entertainment Co. (NYSE:SIX – Get Rating ) was the recipient of a large drop in short interest during the month of November. As of November 30th, short interest totaled 6,170,000 shares, a decrease of 20.8% from the November 15th total of 7,790,000 shares. Based on an average daily trading volume of 2,590,000 shares, the days-to-cover ratio is currently 2.4 days. About 7.6% of the shares of the company are sold short.
Analyzer Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Six Flags Entertainment from $20.00 to $23.00 in a report on Monday, October 31st. William Blair cut Six Flags Entertainment from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $22.00 to $47.00 in a report on Friday, November 11th. Stifel Nicolaus decreased their price objective on Six Flags Entertainment from $30.00 to $27.00 in a report on Friday, November 11th. Truist Financial decreased their price objective on Six Flags Entertainment from $20.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Finally, Credit Suisse Group decreased their price objective on Six Flags Entertainment to $39.00 in a report on Wednesday, November 16th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Six Flags Entertainment currently has an average rating of “Hold” and an average target price of $30.58.
Six Flags Entertainment stock rose 2.1%
Shares of NYSE:SIX opened at $22.32 on Wednesday. The company has a market cap of $1.86 billion, a P/E ratio of 19.58 and a beta of 2.19. Six Flags Entertainment has a 52 week low of $16.83 and a 52 week high of $47.24. The business has a fifty day simple moving average of $21.45 and a 200 day simple moving average of $22.55.
Six Flags Entertainment (NYSE:SIX – Get Rating ) last released its quarterly earnings data on Thursday, November 10th. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.26). Six Flags Entertainment had a net margin of 6.71% and a negative return on equity of 10.56%. The business had revenue of $504.83 million for the quarter, compared to analysts’ expectations of $565.40 million. sell-side analysts anticipate that Six Flags Entertainment will post 1.52 earnings per share for the current fiscal year.
Insider buying and selling
In related news, CFO Gary Mick bought 1,500 shares of the stock in a transaction on Thursday, December 8th. The shares were purchased at an average cost of $20.94 per share, for a total transaction of $31,410.00. Following the purchase, the chief financial officer now owns 52,175 shares of the company’s stock, valued at approximately $1,092,544.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Gary Mick bought 1,500 shares of the stock in a transaction on Thursday, December 8th. The shares were purchased at an average cost of $20.94 per share, for a total transaction of $31,410.00. Following the purchase, the chief financial officer now owns 52,175 shares of the company’s stock, valued at approximately $1,092,544.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Rehan Jaffer purchased 50,000 shares of Six Flags Entertainment stock in a transaction dated Tuesday, November 22nd. The stock was acquired at an average cost of $21.79 per share, with a total value of $1,089,500.00. Following the completion of the acquisition, the insider now directly owns 11,400,000 shares in the company, valued at $248,406,000. The disclosure for this purchase can be found here. Insiders bought 706,500 shares of company stock valued at $16,502,310 in the last quarter. 0.41% of the stock is owned by insiders.
Institutional investors weigh in on Six Flags Entertainment
A number of institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky purchased a new stake in Six Flags Entertainment during the third quarter valued at approximately $354,000. EVR Research LP bought a new stake in Six Flags Entertainment during the third quarter worth about $5,310,000. Advisors Capital Management LLC grew its position in Six Flags Entertainment by 6.9% during the third quarter. Advisors Capital Management LLC now owns 180,781 shares of the company’s stock valued at $4,265,000 after acquiring an additional 11,595 shares during the period. BNP Paribas Arbitrage SNC increased its position in Six Flags Entertainment by 20.6% during the third quarter. BNP Paribas Arbitrage SNC now owns 82,488 shares of the company’s stock valued at $1,460,000 after acquiring an additional 14,095 shares during the period. Finally, State Street Corp grew its position in Six Flags Entertainment by 8.2% during the third quarter. State Street Corp now owns 2,245,547 shares of the company’s stock valued at $39,746,000 after acquiring an additional 171,093 shares during the period. Hedge funds and other institutional investors own 92.10% of the company’s shares.
Six Flags Entertainment Company Profile
(Get rating)
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, gaming venues and retail stores. The company also sells food, beverages, merchandise and other products and services within its parks.
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