Verition Fund Management LLC Increases Stock Holdings in Six Flags Entertainment Co. (NYSE:SIX)

Verition Fund Management LLC lifted its stake in shares of Six Flags Entertainment Co. (NYSE:SIXGet Rating) by 61.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,936 shares of the company’s stock after buying an additional 8,731 shares during the period. Verition Fund Management LLC’s holdings in Six Flags Entertainment were worth $998,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Six Flags Entertainment during the first quarter valued at approximately $35,000. Acadian Asset Management LLC purchased a new position in shares of Six Flags Entertainment during the fourth quarter valued at approximately $39,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Six Flags Entertainment by 58.5% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,159 shares of the company’s stock valued at $51,000 after buying an additional 428 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Six Flags Entertainment by 58.9% during the first quarter. Captrust Financial Advisors now owns 1,257 shares of the company’s stock valued at $55,000 after buying an additional 466 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Six Flags Entertainment during the first quarter valued at approximately $77,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer cut their target price on Six Flags Entertainment from $54.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Credit Suisse Group cut their price objective on Six Flags Entertainment from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Truist Financial cut their price objective on Six Flags Entertainment from $32.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, August 12th. Citigroup cut Six Flags Entertainment from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $26.00 in a research report on Friday, July 8th. Finally, Rosenblatt Securities cut their price objective on Six Flags Entertainment from $56.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Six Flags Entertainment has a consensus rating of “Moderate Buy” and an average price target of $31.91.

Six Flags Entertainment Price Performance

Shares of NYSE SIX opened at $20.91 on Thursday. Six Flags Entertainment Co. has a one year low of $19.80 and a one year high of $47.24. The business’s fifty day moving average price is $23.23 and its 200-day moving average price is $29.63. The stock has a market capitalization of $1.74 billion, a PE ratio of 13.49 and a beta of 2.17.

Six Flags Entertainment (NYSE:SIXGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.48). Six Flags Entertainment had a net margin of 8.83% and a negative return on equity of 14.53%. The firm had revenue of $435.40 million for the quarter, compared to analysts’ expectations of $518.50 million. During the same period in the prior year, the company earned $0.81 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts expect that Six Flags Entertainment Co. will post 1.92 EPS for the current fiscal year.

Insider Activity at Six Flags Entertainment

In related news, major shareholder Rehan Jaffer acquired 275,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were bought at an average cost of $23.28 per share, for a total transaction of $6,402,000.00. Following the purchase, the insider now owns 9,750,000 shares in the company, valued at approximately $226,980,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Gary Mick acquired 4,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average cost of $22.85 per share, for a total transaction of $95,398.75. Following the purchase, the chief financial officer now owns 34,175 shares in the company, valued at approximately $780,898.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Rehan Jaffer bought 275,000 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was acquired at an average price of $23.28 per share, for a total transaction of $6,402,000.00. Following the completion of the purchase, the insider now directly owns 9,750,000 shares in the company, valued at $226,980,000. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,229,175 shares of company stock worth $28,809,899. 0.41% of the stock is owned by company insiders.

Six Flags Entertainment 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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