Six Flags Entertainment Sees Unusually High Options Volume (NYSE:SIX)

Six Flags Entertainment Co. (NYSE:SIXGet Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 3,351 put options on the company. This represents an increase of 1,056% compared to the average daily volume of 290 put options.

Six Flags Entertainment Stock Performance

Shares of SIX stock traded down $1.19 during mid-day trading on Wednesday, reaching $25.12. 667,999 shares of the company were exchanged, compared to its average volume of 890,435. The company has a market capitalization of $2.12 billion, a P/E ratio of 80.72 and a beta of 2.20. The business’s 50 day simple moving average is $25.19 and its 200 day simple moving average is $24.97. Six Flags Entertainment has a fifty-two week low of $18.29 and a fifty-two week high of $28.99.

Six Flags Entertainment (NYSE:SIXGet Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.18). Six Flags Entertainment had a negative return on equity of 6.61% and a net margin of 1.84%. The company had revenue of $292.55 million for the quarter, compared to analyst estimates of $298.42 million. On average, analysts forecast that Six Flags Entertainment will post 1.54 EPS for the current year.

Insider Activity at Six Flags Entertainment

In other Six Flags Entertainment news, CAO Derek Sample sold 2,300 shares of Six Flags Entertainment stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $26.44, for a total value of $60,812.00. Following the transaction, the chief accounting officer now owns 12,805 shares in the company, valued at approximately $338,564.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.

Institutional Trading of Six Flags Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of SIX. Deutsche Bank AG raised its holdings in shares of Six Flags Entertainment by 151.2% during the third quarter. Deutsche Bank AG now owns 321,548 shares of the company’s stock worth $7,560,000 after purchasing an additional 193,543 shares during the period. Yousif Capital Management LLC raised its stake in Six Flags Entertainment by 9.2% during the fourth quarter. Yousif Capital Management LLC now owns 38,842 shares of the company’s stock worth $974,000 after acquiring an additional 3,263 shares during the period. Rush Island Management LP lifted its holdings in Six Flags Entertainment by 23.9% in the third quarter. Rush Island Management LP now owns 3,468,122 shares of the company’s stock worth $81,536,000 after acquiring an additional 668,986 shares during the last quarter. New York Life Investment Management LLC acquired a new position in Six Flags Entertainment in the fourth quarter valued at approximately $8,482,000. Finally, Cove Street Capital LLC grew its holdings in shares of Six Flags Entertainment by 12.4% during the third quarter. Cove Street Capital LLC now owns 478,053 shares of the company’s stock valued at $10,818,000 after purchasing an additional 52,600 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SIX. Deutsche Bank Aktiengesellschaft downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Wednesday, May 15th. B. Riley raised shares of Six Flags Entertainment from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $31.00 in a research note on Thursday, April 18th. Citigroup lifted their target price on shares of Six Flags Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, StockNews.com assumed coverage on Six Flags Entertainment in a research report on Thursday, May 23rd. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.00.

Read Our Latest Stock Analysis on SIX

About Six Flags Entertainment

(Get Free Report)

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 sells food, beverages, merchandise, and other products and services within its parks.

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