Six Flags Entertainment Co. (NYSE:SIX) Sees Large Growth in Short Interest

Posted by on Jun 17th, 2022

Six Flags Entertainment Co. (NYSE:SIX – Get Rating) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 5,340,000 shares, an increase of 24.2% from the May 15th total of 4,300,000 shares. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 6.3% of the shares of the company are short sold.

Shares of SIX stock opened at $20.19 on Friday. Six Flags Entertainment has a 1-year low of $19.91 and a 1-year high of $47.24. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.03 and a beta of 2.24. The stock’s fifty day simple moving average is $33.29 and its 200-day simple moving average is $38.63.

Six Flags Entertainment (NYSE:SIX – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.31. The firm had revenue of $138.10 million during the quarter, compared to analyst estimates of $122.26 million. Six Flags Entertainment had a negative return on equity of 15.34% and a net margin of 10.31%. The business’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same period last year, the company posted ($1.12) EPS. On average, analysts anticipate that Six Flags Entertainment will post 2.55 EPS for the current fiscal year.

SIX has been the topic of several recent research reports. Rosenblatt Securities began coverage on shares of Six Flags Entertainment in a research note on Monday, April 25th. They issued a “buy” rating and a $56.00 price objective on the stock. Citigroup decreased their price target on shares of Six Flags Entertainment from $51.00 to $41.00 in a research report on Friday, May 13th. Truist Financial cut their price objective on Six Flags Entertainment from $46.00 to $32.00 in a research report on Friday, May 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Six Flags Entertainment from $57.00 to $56.00 in a report on Friday, May 13th. Finally, StockNews.com assumed coverage on Six Flags Entertainment in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $49.89.

In other news, CFO Gary Mick purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was purchased at an average cost of $27.01 per share, with a total value of $27,010.00. Following the purchase, the chief financial officer now owns 26,675 shares in the company, valued at approximately $720,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arik W. Ruchim purchased 205,000 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average price of $29.31 per share, for a total transaction of $6,008,550.00. Following the completion of the transaction, the director now owns 9,130,000 shares in the company, valued at approximately $267,600,300. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 553,325 shares of company stock worth $16,049,162. Company insiders own 0.41% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Highland Capital Management LLC lifted its holdings in shares of Six Flags Entertainment by 0.7% during the 1st quarter. Highland Capital Management LLC now owns 41,372 shares of the company’s stock valued at $1,800,000 after buying an additional 273 shares during the last quarter. State of Michigan Retirement System lifted its stake in Six Flags Entertainment by 1.6% in the fourth quarter. State of Michigan Retirement System now owns 19,629 shares of the company’s stock valued at $836,000 after acquiring an additional 300 shares during the last quarter. Twin Lakes Capital Management LLC lifted its stake in Six Flags Entertainment by 0.3% in the first quarter. Twin Lakes Capital Management LLC now owns 100,098 shares of the company’s stock valued at $4,354,000 after acquiring an additional 337 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Six Flags Entertainment by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $868,000 after acquiring an additional 400 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in shares of Six Flags Entertainment by 7.0% during the 4th quarter. Belpointe Asset Management LLC now owns 6,075 shares of the company’s stock worth $259,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

About Six Flags Entertainment (Get Rating)

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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