SG Americas Securities LLC reduced its holdings in shares of Six Flags Entertainment Corp (NYSE:SIX) by 7.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 13,669 shares of the company’s stock after selling 1,130 shares during the period. SG Americas Securities LLC’s holdings in Six Flags Entertainment were worth $958,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Six Flags Entertainment by 31.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,210 shares of the company’s stock worth $225,000 after acquiring an additional 772 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Six Flags Entertainment by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,961 shares of the company’s stock worth $621,000 after acquiring an additional 853 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Six Flags Entertainment by 6.5% during the 1st quarter. Amalgamated Bank now owns 14,841 shares of the company’s stock worth $924,000 after acquiring an additional 902 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Six Flags Entertainment by 15.0% during the 2nd quarter. Brookstone Capital Management now owns 7,467 shares of the company’s stock worth $523,000 after acquiring an additional 972 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its stake in shares of Six Flags Entertainment by 12.9% during the 1st quarter. CIBC World Markets Inc. now owns 8,623 shares of the company’s stock worth $537,000 after acquiring an additional 982 shares during the last quarter. 94.58% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Richard Roedel purchased 3,974 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were acquired at an average cost of $62.85 per share, for a total transaction of $249,765.90. Following the acquisition, the director now owns 14,293 shares of the company’s stock, valued at approximately $898,315.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Reid-Anderson sold 700 shares of Six Flags Entertainment stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $72.49, for a total value of $50,743.00. Following the completion of the transaction, the chief executive officer now owns 3,375,768 shares in the company, valued at $244,709,422.32. The disclosure for this sale can be found here. Insiders sold a total of 104,745 shares of company stock worth $7,581,553 over the last quarter. Company insiders own 6.90% of the company’s stock.
A number of brokerages recently issued reports on SIX. Wedbush lowered Six Flags Entertainment from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $70.00 in a research note on Friday, July 20th. KeyCorp lifted their target price on Six Flags Entertainment from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. ValuEngine raised Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Zacks Investment Research lowered Six Flags Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Wells Fargo & Co lowered Six Flags Entertainment from an “outperform” rating to a “market perform” rating in a research report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Six Flags Entertainment currently has a consensus rating of “Hold” and an average target price of $72.11.
Shares of NYSE SIX opened at $71.81 on Friday. 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 cap of $5.75 billion, a price-to-earnings ratio of 33.71 and a beta of 0.99. Six Flags Entertainment Corp has a twelve month low of $51.65 and a twelve month high of $73.38.
Six Flags Entertainment (NYSE:SIX) last issued its earnings results on Wednesday, July 25th. The company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.05). Six Flags Entertainment had a net margin of 20.65% and a negative return on equity of 33.82%. The firm had revenue of $445.40 million for the quarter, compared to the consensus estimate of $438.80 million. During the same period last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. research analysts expect that Six Flags Entertainment Corp will post 2.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 30th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.34%. Six Flags Entertainment’s dividend payout ratio is presently 146.48%.
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: How Do I Invest in Dividend Stocks
Receive News & Ratings for Six Flags Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Six Flags Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.