Six Flags Entertainment (NYSE:SIX) Stock Price Up 5% After Analyst Upgrade

Posted by Defense World Staff on Jun 8th, 2023

Six Flags Entertainment Co. (NYSE:SIX – Get Rating) shares traded up 5% during trading on Wednesday after Oppenheimer raised their price target on the stock from $30.00 to $35.00. The stock traded as high as $28.58 and last traded at $28.52. 301,889 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,756,187 shares. The stock had previously closed at $27.17.

SIX has been the topic of a number of other research reports. Citigroup upped their target price on Six Flags Entertainment from $26.00 to $29.00 in a research note on Tuesday, May 9th. KeyCorp began coverage on shares of Six Flags Entertainment in a research note on Thursday, May 25th. They issued an “overweight” rating and a $35.00 price objective for the company. Rosenblatt Securities raised their price target on shares of Six Flags Entertainment from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Six Flags Entertainment from $36.00 to $38.00 in a research note on Tuesday, May 9th. Finally, TheStreet cut shares of Six Flags Entertainment from a “c” rating to a “d+” rating in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment presently has a consensus rating of “Hold” and an average price target of $31.46.

Insider Activity

In related news, CFO Gary Mick bought 5,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were acquired at an average price of $26.62 per share, for a total transaction of $133,100.00. Following the completion of the transaction, the chief financial officer now directly owns 82,237 shares in the company, valued at $2,189,148.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Six Flags Entertainment in the first quarter valued at approximately $26,000. CWM LLC grew its holdings in shares of Six Flags Entertainment by 51.7% during the 4th quarter. CWM LLC now owns 1,186 shares of the company’s stock worth $28,000 after purchasing an additional 404 shares during the period. National Bank of Canada FI increased its position in shares of Six Flags Entertainment by 166.4% during the 1st quarter. National Bank of Canada FI now owns 1,119 shares of the company’s stock worth $30,000 after purchasing an additional 699 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Six Flags Entertainment in the 1st quarter valued at approximately $31,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Six Flags Entertainment by 64.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,425 shares of the company’s stock worth $33,000 after acquiring an additional 559 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Six Flags Entertainment Stock Performance

The stock’s 50-day moving average is $25.44 and its two-hundred day moving average is $25.36. The stock has a market cap of $2.35 billion, a PE ratio of 22.73 and a beta of 2.18.

Six Flags Entertainment (NYSE:SIX – Get Rating) last released its earnings results on Monday, May 8th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.01. Six Flags Entertainment had a negative return on equity of 13.15% and a net margin of 7.69%. The company had revenue of $142.20 million during the quarter, compared to the consensus estimate of $133.49 million. During the same period in the previous year, the company posted ($0.76) EPS. Six Flags Entertainment’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Six Flags Entertainment Co. will post 2.14 EPS for the current year.

Six Flags Entertainment Company Profile

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Six Flags Entertainment Corp. engages in the ownership and operation of theme parks and water parks. It operates under the brand name Six Flags, which offers rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company was founded by Angus G. Wynne Jr.