CIBC Private Wealth Group LLC lessened its position in Six Flags Entertainment Corp (NYSE:SIX) by 31.3% in the second quarter, HoldingsChannel.com reports. The firm owned 2,439 shares of the company’s stock after selling 1,109 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Six Flags Entertainment were worth $171,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SIX. Ostrum Asset Management purchased a new position in Six Flags Entertainment during the first quarter valued at $110,000. Whittier Trust Co. of Nevada Inc. raised its stake in Six Flags Entertainment by 61.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,438 shares of the company’s stock valued at $152,000 after buying an additional 927 shares during the last quarter. Weatherstone Capital Management purchased a new position in Six Flags Entertainment during the first quarter valued at $202,000. HL Financial Services LLC purchased a new position in Six Flags Entertainment during the first quarter valued at $205,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in Six Flags Entertainment during the second quarter valued at $241,000. Institutional investors own 98.30% of the company’s stock.
SIX stock opened at $66.85 on Tuesday. Six Flags Entertainment Corp has a 1-year low of $51.25 and a 1-year high of $73.38. The company has a debt-to-equity ratio of -3.10, a current ratio of 0.55 and a quick ratio of 0.48. The firm has a market capitalization of $5.56 billion, a PE ratio of 31.35 and a beta of 1.04.
Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.05). Six Flags Entertainment had a negative return on equity of 33.82% and a net margin of 20.65%. The business had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $438.80 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. research analysts anticipate that Six Flags Entertainment Corp will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 30th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Wednesday, August 29th. Six Flags Entertainment’s dividend payout ratio is currently 146.48%.
In other news, Director Richard Roedel acquired 3,974 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was bought at an average price of $62.85 per share, with a total value of $249,765.90. Following the completion of the acquisition, the director now directly owns 14,293 shares of the company’s stock, valued at approximately $898,315.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Reid-Anderson sold 700 shares of Six Flags Entertainment stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $72.49, for a total value of $50,743.00. Following the completion of the sale, the chief executive officer now directly owns 3,375,768 shares of the company’s stock, valued at approximately $244,709,422.32. The disclosure for this sale can be found here. Insiders sold 201,811 shares of company stock valued at $14,401,216 in the last 90 days. Company insiders own 5.50% of the company’s stock.
SIX has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on Six Flags Entertainment from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. ValuEngine cut Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. B. Riley lifted their price objective on Six Flags Entertainment from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Macquarie lifted their price objective on Six Flags Entertainment from $56.00 to $58.00 and gave the company an “underperform” rating in a research note on Thursday, April 26th. Finally, Zacks Investment Research upgraded Six Flags Entertainment from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $70.80.
Six Flags Entertainment 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.
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