Six Flags Entertainment Corp (SIX) Stake Increased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its position in shares of Six Flags Entertainment Corp (NYSE:SIX) by 14.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,109 shares of the company’s stock after buying an additional 1,511 shares during the period. Park Avenue Securities LLC’s holdings in Six Flags Entertainment were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guggenheim Capital LLC boosted its position in shares of Six Flags Entertainment by 5.8% during the 1st quarter. Guggenheim Capital LLC now owns 36,284 shares of the company’s stock worth $2,258,000 after purchasing an additional 2,004 shares during the period. Principal Financial Group Inc. boosted its position in shares of Six Flags Entertainment by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 336,971 shares of the company’s stock worth $20,980,000 after purchasing an additional 5,704 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Six Flags Entertainment by 3.1% during the 1st quarter. Allianz Asset Management GmbH now owns 98,470 shares of the company’s stock worth $6,131,000 after purchasing an additional 2,930 shares during the period. Brown Advisory Inc. boosted its position in shares of Six Flags Entertainment by 30.0% during the 1st quarter. Brown Advisory Inc. now owns 8,752 shares of the company’s stock worth $545,000 after purchasing an additional 2,018 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Six Flags Entertainment by 39.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,783 shares of the company’s stock worth $965,000 after purchasing an additional 3,900 shares during the period. Institutional investors and hedge funds own 94.58% of the company’s stock.

Several equities analysts have commented on the stock. B. Riley decreased their price target on shares of Six Flags Entertainment from $81.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Wedbush cut shares of Six Flags Entertainment from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $76.00 to $70.00 in a research report on Friday, July 20th. SunTrust Banks decreased their price target on shares of Six Flags Entertainment to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Macquarie raised shares of Six Flags Entertainment from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.63.

In other news, insider Catherine Aslin sold 2,425 shares of Six Flags Entertainment stock in a transaction on Monday, August 27th. The shares were sold at an average price of $66.85, for a total transaction of $162,111.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Barber sold 449 shares of Six Flags Entertainment stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $65.21, for a total transaction of $29,279.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,934 shares of company stock valued at $195,337. Corporate insiders own 6.90% of the company’s stock.

Shares of SIX stock opened at $58.35 on Thursday. Six Flags Entertainment Corp has a 52 week low of $51.91 and a 52 week high of $73.38. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 27.39 and a beta of 1.21.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $2.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.16). Six Flags Entertainment had a net margin of 20.30% and a negative return on equity of 35.16%. The business had revenue of $619.82 million during the quarter, compared to analysts’ expectations of $633.03 million. As a group, equities research analysts forecast that Six Flags Entertainment Corp will post 2.61 earnings per share for the current fiscal year.

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About Six Flags Entertainment

Six Flags Entertainment Corp. engages in the business of operating regional theme parks. It operates under the brand name Six Flags, which offers thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets. The company was founded by Angus Wynne in 1961 and is headquartered in Grand Prairie, TX.

Further Reading: When is a capital gain realized?

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Institutional Ownership by Quarter for Six Flags Entertainment (NYSE:SIX)

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