Six Flags Entertainment Corp (NYSE:SIX) Short Interest Down 8.9% in October

Six Flags Entertainment Corp (NYSE:SIX) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 4,400,000 shares, a drop of 8.9% from the September 30th total of 4,830,000 shares. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.5% of the company’s shares are sold short.

NYSE SIX opened at $46.05 on Tuesday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.52 and a beta of 0.92. The company’s 50-day simple moving average is $46.84 and its two-hundred day simple moving average is $51.76. Six Flags Entertainment has a one year low of $40.72 and a one year high of $64.28.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.19). Six Flags Entertainment had a negative return on equity of 38.61% and a net margin of 18.02%. The firm had revenue of $621.18 million during the quarter, compared to analysts’ expectations of $643.90 million. During the same period in the previous year, the firm earned $2.16 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Six Flags Entertainment will post 2.68 earnings per share for the current year.

A number of brokerages recently weighed in on SIX. ValuEngine lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Friday, November 1st. KeyCorp reissued a “buy” rating and set a $57.00 target price (down previously from $62.00) on shares of Six Flags Entertainment in a research report on Friday, October 25th. They noted that the move was a valuation call. Wedbush cut their target price on shares of Six Flags Entertainment from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Berenberg Bank downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.00.

In related news, Director Richard Roedel acquired 5,662 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $44.13 per share, for a total transaction of $249,864.06. Following the acquisition, the director now directly owns 16,738 shares of the company’s stock, valued at approximately $738,647.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Barber sold 468 shares of Six Flags Entertainment stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.98, for a total transaction of $27,602.64. The disclosure for this sale can be found here. Insiders have sold a total of 643 shares of company stock valued at $37,865 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of SIX. WINTON GROUP Ltd grew its position in shares of Six Flags Entertainment by 78.1% in the 2nd quarter. WINTON GROUP Ltd now owns 10,099 shares of the company’s stock worth $502,000 after buying an additional 4,428 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Six Flags Entertainment by 8.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the company’s stock worth $1,098,000 after buying an additional 1,700 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Six Flags Entertainment in the 2nd quarter worth approximately $434,000. Oregon Public Employees Retirement Fund grew its position in shares of Six Flags Entertainment by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 29,017 shares of the company’s stock worth $1,442,000 after buying an additional 409 shares during the last quarter. Finally, Forte Capital LLC ADV grew its position in shares of Six Flags Entertainment by 21.5% in the 2nd quarter. Forte Capital LLC ADV now owns 16,825 shares of the company’s stock worth $836,000 after buying an additional 2,978 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags 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 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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