Six Flags (SIX) Trading 8.5% Higher Following Better-Than-Expected Earnings

Six Flags (NYSE:SIX)’s share price traded up 8.5% on Wednesday following a stronger than expected earnings report. The company traded as high as $66.82 and last traded at $64.18. 3,808,647 shares traded hands during trading, an increase of 313% from the average session volume of 921,831 shares. The stock had previously closed at $59.16.

The company reported ($0.74) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.05. Six Flags had a negative return on equity of 33.81% and a net margin of 19.38%. The firm had revenue of $128.96 million for the quarter, compared to analyst estimates of $118.75 million. During the same quarter last year, the company earned ($0.63) EPS. The company’s revenue was up 29.6% on a year-over-year basis.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Six Flags from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Saturday, February 17th. Stifel Nicolaus restated a “buy” rating and set a $78.00 price objective (up previously from $72.00) on shares of Six Flags in a research note on Wednesday, February 21st. Wedbush set a $76.00 price objective on Six Flags and gave the stock a “buy” rating in a research note on Monday, January 8th. B. Riley raised their price objective on Six Flags from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Macquarie raised their target price on Six Flags from $56.00 to $58.00 and gave the company an “underperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.50.

In other Six Flags news, VP Lance C. Balk sold 100,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $65.67, for a total value of $6,567,000.00. Following the sale, the vice president now owns 15,738 shares of the company’s stock, valued at approximately $1,033,514.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Barber sold 597 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $66.57, for a total value of $39,742.29. Following the completion of the sale, the chief financial officer now directly owns 80,536 shares in the company, valued at approximately $5,361,281.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,647 shares of company stock worth $6,610,018. Company insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans boosted its holdings in shares of Six Flags by 1.9% during the 4th quarter. Thrivent Financial For Lutherans now owns 1,593,898 shares of the company’s stock valued at $106,106,000 after acquiring an additional 29,180 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Six Flags by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,424,909 shares of the company’s stock valued at $94,855,000 after acquiring an additional 13,180 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Six Flags by 132.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 785,710 shares of the company’s stock valued at $52,305,000 after acquiring an additional 447,635 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Six Flags during the 4th quarter valued at $49,415,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Six Flags by 8.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 506,123 shares of the company’s stock valued at $33,693,000 after acquiring an additional 38,119 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of -4.00, a current ratio of 0.74 and a quick ratio of 0.66. The firm has a market cap of $5,002.07, a price-to-earnings ratio of 30.05 and a beta of 1.13.

Six Flags Company Profile

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand 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 20 parks, including 17 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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