Six Flags Entertainment Co. (NYSE:SIX) has attracted the interest of Arden Trust Co, which recently acquired 9,761 shares of the firm’s stock, valued at around $261,000. As a result of this acquisition, Arden Trust Co now holds a new position in Six Flags Entertainment Corporation, which owns and operates regional theme and waterparks under the Six Flags name. This includes various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets.
Recently, various equities research analysts have shared their opinions on the future of Six Flags Entertainment Corporation. Following an evaluation on Wednesday 22 March 2021 by Rosenblatt Securities regarding Six Flags Entertainment’s price objective from $31 to $32 per share and a “buy” rating for its stock. Conversely The Goldman Sachs Group suggested a “sell” rating with a $26 per share price objective in their report published on Wednesday 31 May 2021 whereas Deutsche Bank Aktiengesellschaft elevated its price objective from $36 to $38 per share. Truist Financial also boosted their price target for this stock from $24 to $25 per share further validating analyst confidence towards SIX.
Finally it should be noted that according to Bloomberg.com the consensus among analysts is to place a “Hold” rating on the stock with the current consensus target price resting at an estimated worth of $31.46 per share for Six Flags Entertainment Co (NYSE:SIX). It will be interesting to observe how these varied predictions translate into reality over time as investors evaluate this entertainment giant’s performance going forward.
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Investors and Insiders Show Interest in Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is a well-known theme park and waterpark operator, with parks located throughout the United States. Recently, several institutional investors and hedge funds purchased and sold shares of Six Flags Entertainment’s stock, including State of Alaska Department of Revenue, CWM LLC, Penn Capital Management Company LLC, Captrust Financial Advisors and Quadrant Capital Group LLC. These investors now own 99% of the company’s stock.
In addition to investor activity, Chief Financial Officer (CFO) Gary Mick recently acquired 5,812 shares of Six Flags Entertainment stock in a transaction on June 9th. The purchase was disclosed in a document filed with the Securities & Exchange Commission and was completed at an average price per share of $26.98.
Despite recent investment activity and insider buying, shares of Six Flags Entertainment opened at $25.79 on Tuesday. The company has a fifty-day moving average price of $25.85 and a 200-day moving average price of $25.83. Its market capitalization is $2.15 billion with a P/E ratio of 20.79 and a beta of 2.18.
The company’s last quarterly earnings report showed better-than-expected results with revenue for the quarter landing at $142.20 million versus analysts’ expectations of $133.49 million.
Six Flags Entertainment offers thrilling rides, water attractions, themed areas complete with concerts and shows as well as restaurants, game venues and retail outlets within its parks.
Overall, Six Flags Entertainment Corporation remains an important player within the entertainment industry while continuing to attract investors amid an unstable economic climate – these developments subsequently prompt one to forecast bright days ahead for this innovative corporation.
