Six Flags Entertainment (NYSE:SIX) Sees Large Volume Increase

Shares of Six Flags Entertainment Co. (NYSE:SIX) saw strong trading volume on Tuesday . 541,409 shares traded hands during trading, a decline of 42% from the previous session’s volume of 930,941 shares.The stock last traded at $31.88 and had previously closed at $30.23.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SIX. Citigroup lifted their price objective on Six Flags Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 1st. StockNews.com began coverage on Six Flags Entertainment in a research note on Sunday. They set a “hold” rating for the company. B. Riley upgraded Six Flags Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $31.00 in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft cut Six Flags Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.42.

Six Flags Entertainment Price Performance

The company has a market capitalization of $2.69 billion, a PE ratio of 99.94 and a beta of 2.25. The business has a 50-day moving average of $25.86 and a 200 day moving average of $25.34.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.91) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.91). Six Flags Entertainment had a negative return on equity of 6.61% and a net margin of 1.84%. The business had revenue of $133.29 million for the quarter, compared to the consensus estimate of $135.23 million. As a group, research analysts anticipate that Six Flags Entertainment Co. will post 1.53 EPS for the current year.

Insider Buying and Selling at Six Flags Entertainment

In other news, CAO Derek Sample sold 2,300 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $26.44, for a total value of $60,812.00. Following the sale, the chief accounting officer now directly owns 12,805 shares in the company, valued at $338,564.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Six Flags Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI raised its holdings in shares of Six Flags Entertainment by 527.2% in the fourth quarter. National Bank of Canada FI now owns 1,129 shares of the company’s stock worth $28,000 after buying an additional 949 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Six Flags Entertainment in the third quarter worth approximately $48,000. Neo Ivy Capital Management bought a new position in Six Flags Entertainment in the fourth quarter worth approximately $98,000. Quest Partners LLC bought a new position in Six Flags Entertainment in the fourth quarter worth approximately $135,000. Finally, Contravisory Investment Management Inc. bought a new position in Six Flags Entertainment in the first quarter worth approximately $145,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

About Six Flags Entertainment

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 sells food, beverages, merchandise, and other products and services within its parks.