Wellington Management Group LLP purchased a new stake in Six Flags Entertainment Corporation New (NYSE:SIX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,258 shares of the company’s stock, valued at approximately $848,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Six Flags Entertainment Corporation New by 2,062.3% in the first quarter. JPMorgan Chase & Co. now owns 249,681 shares of the company’s stock valued at $14,855,000 after buying an additional 238,134 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Six Flags Entertainment Corporation New during the fourth quarter valued at about $588,000. Parametric Portfolio Associates LLC raised its position in Six Flags Entertainment Corporation New by 20.9% in the first quarter. Parametric Portfolio Associates LLC now owns 214,016 shares of the company’s stock valued at $12,732,000 after buying an additional 36,941 shares during the last quarter. Bank of Montreal Can raised its position in Six Flags Entertainment Corporation New by 2,397.0% in the first quarter. Bank of Montreal Can now owns 66,669 shares of the company’s stock valued at $3,967,000 after buying an additional 63,999 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Six Flags Entertainment Corporation New by 207.3% in the first quarter. Asset Management One Co. Ltd. now owns 91,168 shares of the company’s stock valued at $5,443,000 after buying an additional 61,500 shares during the last quarter. Hedge funds and other institutional investors own 87.05% of the company’s stock.
Shares of Six Flags Entertainment Corporation New (NYSE:SIX) opened at 55.87 on Friday. Six Flags Entertainment Corporation New has a 52-week low of $47.61 and a 52-week high of $65.19. The firm has a market cap of $5.06 billion, a P/E ratio of 48.97 and a beta of 1.15. The company has a 50-day moving average of $59.11 and a 200 day moving average of $60.02.
Six Flags Entertainment Corporation New (NYSE:SIX) last posted its quarterly earnings data on Wednesday, April 26th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.03. The business had revenue of $99.50 million during the quarter, compared to the consensus estimate of $107.58 million. Six Flags Entertainment Corporation New had a negative return on equity of 89.39% and a net margin of 8.26%. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. On average, equities analysts expect that Six Flags Entertainment Corporation New will post $2.05 earnings per share for the current year.
Six Flags Entertainment Corporation New announced that its board has approved a share repurchase program on Thursday, March 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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Several research analysts have issued reports on SIX shares. Wedbush lowered their price target on shares of Six Flags Entertainment Corporation New from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, June 8th. ValuEngine raised shares of Six Flags Entertainment Corporation New from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Hilliard Lyons downgraded shares of Six Flags Entertainment Corporation New from a “buy” rating to a “neutral” rating in a research report on Thursday, April 27th. Zacks Investment Research downgraded shares of Six Flags Entertainment Corporation New from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $69.00 price objective on shares of Six Flags Entertainment Corporation New in a research report on Monday, May 1st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Six Flags Entertainment Corporation New presently has an average rating of “Buy” and a consensus target price of $66.55.
In other news, VP Brett Petit sold 20,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $64.95, for a total value of $1,299,000.00. Following the sale, the vice president now directly owns 150,433 shares of the company’s stock, valued at $9,770,623.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Usman Nabi sold 5,060,628 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $61.36, for a total value of $310,520,134.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,159,620 shares of company stock valued at $316,956,774. 6.90% of the stock is owned by corporate insiders.
About Six Flags Entertainment Corporation New
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.
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