Six Flags Entertainment Co. (NYSE:SIX) Position Trimmed by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. trimmed its holdings in shares of Six Flags Entertainment Co. (NYSE:SIXGet Rating) by 37.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,827 shares of the company’s stock after selling 70,147 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Six Flags Entertainment were worth $4,995,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Six Flags Entertainment during the fourth quarter worth approximately $39,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Six Flags Entertainment by 58.5% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,159 shares of the company’s stock valued at $51,000 after acquiring an additional 428 shares in the last quarter. Steph & Co. purchased a new stake in shares of Six Flags Entertainment in the 1st quarter valued at approximately $95,000. Islay Capital Management LLC purchased a new stake in shares of Six Flags Entertainment in the 1st quarter valued at approximately $117,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Six Flags Entertainment in the 1st quarter valued at approximately $202,000. 88.55% of the stock is currently owned by institutional investors.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock traded up $0.47 during midday trading on Friday, reaching $24.45. 1,690,648 shares of the company’s stock traded hands, compared to its average volume of 3,382,392. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 13.36 and a beta of 2.20. The company’s 50 day simple moving average is $23.77 and its 200 day simple moving average is $33.93. Six Flags Entertainment Co. has a 52 week low of $19.87 and a 52 week high of $47.24.

Six Flags Entertainment (NYSE:SIXGet Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.31. Six Flags Entertainment had a net margin of 10.31% and a negative return on equity of 15.34%. The business had revenue of $138.10 million for the quarter, compared to analyst estimates of $122.26 million. During the same period last year, the business posted ($1.12) EPS. Six Flags Entertainment’s revenue was up 68.4% compared to the same quarter last year. As a group, equities research analysts predict that Six Flags Entertainment Co. will post 2.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on SIX. B. Riley downgraded shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $24.00 in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Six Flags Entertainment from $57.00 to $56.00 in a research report on Friday, May 13th. Truist Financial cut their target price on shares of Six Flags Entertainment from $46.00 to $32.00 in a research report on Friday, May 13th. Rosenblatt Securities assumed coverage on shares of Six Flags Entertainment in a research report on Monday, April 25th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Citigroup downgraded shares of Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $26.00 in a research report on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Six Flags Entertainment has an average rating of “Moderate Buy” and a consensus price target of $41.80.

Insider Activity at Six Flags Entertainment

In other news, major shareholder Rehan Jaffer bought 50,000 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were acquired at an average cost of $29.84 per share, for a total transaction of $1,492,000.00. Following the purchase, the insider now owns 9,425,000 shares of the company’s stock, valued at approximately $281,242,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Gary Mick purchased 1,325 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were bought at an average cost of $23.82 per share, for a total transaction of $31,561.50. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $714,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Rehan Jaffer purchased 50,000 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was bought at an average price of $29.84 per share, for a total transaction of $1,492,000.00. Following the completion of the transaction, the insider now directly owns 9,425,000 shares in the company, valued at $281,242,000. The disclosure for this purchase can be found here. In the last three months, insiders have bought 553,325 shares of company stock worth $16,049,162. 0.41% of the stock is owned by insiders.

Six Flags Entertainment Company Profile

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Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company also sells food, beverages, merchandise, and other products and services within its parks.

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

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