Spire Wealth Management Invests $43,000 in Six Flags Entertainment Co. (NYSE:SIX)

Posted by Defense World Staff on Aug 26th, 2023

Spire Wealth Management bought a new position in shares of Six Flags Entertainment Co. (NYSE:SIX – Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,599 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Six Flags Entertainment by 45.7% during the 3rd quarter. BlackRock Inc. now owns 9,918,652 shares of the company’s stock worth $175,559,000 after buying an additional 3,108,978 shares during the period. Vanguard Group Inc. grew its position in shares of Six Flags Entertainment by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 8,157,265 shares of the company’s stock worth $354,841,000 after buying an additional 483,965 shares during the period. Wellington Management Group LLP grew its position in shares of Six Flags Entertainment by 12.6% during the 1st quarter. Wellington Management Group LLP now owns 3,244,963 shares of the company’s stock worth $141,156,000 after buying an additional 362,407 shares during the period. Land & Buildings Investment Management LLC grew its position in shares of Six Flags Entertainment by 189.5% during the 4th quarter. Land & Buildings Investment Management LLC now owns 2,601,473 shares of the company’s stock worth $60,484,000 after buying an additional 1,702,783 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Six Flags Entertainment by 242.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,297,340 shares of the company’s stock worth $99,934,000 after buying an additional 1,625,966 shares during the period. 99.00% of the stock is currently owned by institutional investors and hedge funds.

Six Flags Entertainment Stock Performance

NYSE SIX opened at $22.03 on Friday. Six Flags Entertainment Co. has a 52 week low of $16.83 and a 52 week high of $31.29. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 22.95 and a beta of 2.16. The stock’s 50 day moving average price is $24.15 and its two-hundred day moving average price is $25.50.

Six Flags Entertainment (NYSE:SIX – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.53). Six Flags Entertainment had a negative return on equity of 9.50% and a net margin of 5.83%. The company had revenue of $443.71 million for the quarter, compared to the consensus estimate of $465.25 million. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Six Flags Entertainment Co. will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SIX. Truist Financial cut their price objective on Six Flags Entertainment from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Macquarie cut their price objective on Six Flags Entertainment from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. Stifel Nicolaus cut their price objective on Six Flags Entertainment from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Morgan Stanley cut their price objective on Six Flags Entertainment from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, August 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Six Flags Entertainment from $38.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

View Our Latest Stock Report on Six Flags Entertainment

Insider Transactions at Six Flags Entertainment

In related news, CFO Gary Mick acquired 5,812 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were bought at an average price of $26.98 per share, for a total transaction of $156,807.76. Following the purchase, the chief financial officer now directly owns 89,737 shares in the company, valued at approximately $2,421,104.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

Six Flags Entertainment Company Profile

(Free Report)

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.

Want to see what other hedge funds are holding SIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Six Flags Entertainment Co. (NYSE:SIX – Free Report).

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

Receive News & Ratings for Six Flags Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Six Flags Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.