H Partners Management LLC recently announced the acquisition of new stake in Six Flags Entertainment Corporation (NYSE:SIX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 64.85% to 7.8 million shares with purchase of 3.07 million shares. This fresh investment now brings its stake to 9.21% valued currently at $149.84 million. In addition, The Vanguard Group, Inc. raised its holdings by 69629.0 to 7.54 million shares. And Goldman Sachs & Co. LLC (Private. has lifted its position by 1,049.35% or 2.52 million shares – to 2.76 million shares.
With over 5.07 million Six Flags Entertainment Corporation (SIX) shares trading Thursday and a closing price of $17.31 on the day, the dollar volume was approximately $87.69 million. The shares have shown a negative weekly performance of -16.74% and its price on 07/30/20 lost nearly -6.43%. Currently, there are 84.66M common shares owned by the public and among those 75.84M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for SIX have a consensus price objective of $22.25. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $16.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Six Flags Entertainment Corporation stock is 2.40 for the next 12 months. The average price target is 25.29% above its last price level and an upside to the estimated low will see the stock lose -8.19% over that period. But an upside of 42.3% will see the stock hit the forecast high price target while mean target price for the stock is $22.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 2,782,502 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 17,682 shares.
The top 3 mutual fund holders in Six Flags Entertainment Corporation are Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 2.3 million shares of the company’s stock, all valued at over $44.18 million. The company sold 22747.0 shares recently to bring their total holdings to about 2.72% of the shares outstanding. Vanguard Small Cap Index Fund sold 64723.0 shares to bring its total holdings to over 2.02 million shares at a value of $38.77 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.38% of the shares outstanding.
Shares of Six Flags Entertainment Corporation (NYSE: SIX) opened at $18.00, down -$0.5 from a prior closing price of $18.50. However, the script later closed the day at $17.31, down -6.43%. The company’s stock has a 5-day price change of -16.74% and -13.49% over the past three months. SIX shares are trading -61.63% year to date (YTD), with the 12-month market performance down to -67.23% lower. It has a 12-month low price of $8.75 and touched a high of $59.52 over the same period. Currently, 5.07 million shares have been traded, compared to an average intraday trading volume of 3.65 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.20%, -20.85%, and -42.23% respectively.
Institutional ownership of Six Flags Entertainment Corporation (NYSE: SIX) shares accounts for 79.20% of the company’s 84.66M shares outstanding. Mutual fund holders own 28.31%, while other institutional holders and individual stakeholders account for 49.80% and 27.13% respectively.
It has a market capitalization of $1.51B and a beta (3y monthly) value of 2.21. The stock’s trailing 12-month PE ratio is 9.01, while the earnings-per-share (ttm) stands at $1.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.52% over the week and 5.51% over the month.
Analysts forecast that Six Flags Entertainment Corporation (SIX) will achieve an EPS of $0.11 for the current quarter, -$0.31 for the next quarter and $0.37 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.78 while analysts give the company a high EPS estimate of $0.98. Comparatively, EPS for the current quarter was $2.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -34.80%, and 128.80% over the next financial year. EPS should shrink at an annualized rate of -1.22% over the next five years, compared to 22.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Six Flags Entertainment Corporation (SIX) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 7 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the SIX, a number of firms have released research notes about the stock. B. Riley FBR stated their Buy rating for the stock in a research note on July 30, 2020, with the firm’s price target at $31-$26. Janney coverage for the Six Flags Entertainment Corporation (SIX) stock in a research note released on July 09, 2020 offered a Buy rating with a price target of $30. B. Riley FBR was of a view on June 15, 2020 that the stock is Buy, while Goldman gave the stock Sell rating on May 28, 2020, issuing a price target of $22. Credit Suisse on their part issued Neutral rating on May 21, 2020.