MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Six Flags Entertainment Corp (NYSE:SIX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,800 shares of the company’s stock, valued at approximately $712,000.
Several other institutional investors and hedge funds have also modified their holdings of SIX. Capital World Investors purchased a new stake in shares of Six Flags Entertainment during the third quarter valued at approximately $167,568,000. Oregon Public Employees Retirement Fund grew its holdings in Six Flags Entertainment by 5,463.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,564,983 shares of the company’s stock valued at $28,000 after purchasing an additional 1,536,851 shares during the period. Bank of New York Mellon Corp grew its holdings in Six Flags Entertainment by 16.6% during the third quarter. Bank of New York Mellon Corp now owns 2,020,972 shares of the company’s stock valued at $141,104,000 after purchasing an additional 288,077 shares during the period. Rehmann Capital Advisory Group grew its holdings in Six Flags Entertainment by 7,300.8% during the third quarter. Rehmann Capital Advisory Group now owns 208,703 shares of the company’s stock valued at $2,989,000 after purchasing an additional 205,883 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Six Flags Entertainment by 3.5% during the third quarter. William Blair Investment Management LLC now owns 4,949,544 shares of the company’s stock valued at $345,578,000 after purchasing an additional 165,157 shares during the period. 90.25% of the stock is owned by institutional investors.
Several brokerages have weighed in on SIX. TheStreet lowered Six Flags Entertainment from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Zacks Investment Research lowered Six Flags Entertainment from a “buy” rating to a “hold” rating in a report on Friday, March 8th. ValuEngine lowered Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Oppenheimer cut their price target on Six Flags Entertainment from $80.00 to $68.00 in a report on Thursday, January 17th. Finally, Wells Fargo & Co raised Six Flags Entertainment from a “market perform” rating to an “outperform” rating in a report on Thursday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $66.11.
Shares of SIX stock traded down $0.22 on Friday, reaching $51.20. The company’s stock had a trading volume of 1,925,346 shares, compared to its average volume of 1,380,154. Six Flags Entertainment Corp has a 12-month low of $49.14 and a 12-month high of $73.38. The company has a market capitalization of $4.32 billion, a PE ratio of 15.85 and a beta of 1.16.
Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.65. Six Flags Entertainment had a negative return on equity of 43.77% and a net margin of 18.86%. The company had revenue of $269.50 million for the quarter, compared to the consensus estimate of $284.50 million. During the same quarter last year, the business posted $1.14 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Six Flags Entertainment Corp will post 2.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 18th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $3.28 dividend on an annualized basis and a yield of 6.41%. Six Flags Entertainment’s payout ratio is 101.55%.
In other news, Director Usman Nabi purchased 5,000 shares of the stock in a transaction on Friday, March 8th. The shares were acquired at an average price of $50.77 per share, for a total transaction of $253,850.00. Following the completion of the transaction, the director now directly owns 7,520 shares of the company’s stock, valued at approximately $381,790.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brett Petit sold 27,750 shares of Six Flags Entertainment stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $63.00, for a total value of $1,748,250.00. The disclosure for this sale can be found here. Insiders have sold 29,139 shares of company stock worth $1,827,495 in the last 90 days. Company insiders own 5.50% of the company’s stock.
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Six Flags Entertainment Company Profile
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 20 parks, including 17 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.
Further Reading: Technical Analysis
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