Six Flags (SIX) Sees Significant Growth in Short Interest

Six Flags (NYSE:SIX) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 13,425,915 shares, an increase of 41.8% from the May 15th total of 9,471,127 shares. Based on an average trading volume of 1,178,330 shares, the short-interest ratio is presently 11.4 days. Currently, 17.2% of the company’s stock are sold short.

In other Six Flags news, CEO James Reid-Anderson sold 700 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $72.49, for a total transaction of $50,743.00. Following the completion of the transaction, the chief executive officer now directly owns 3,375,768 shares of the company’s stock, valued at approximately $244,709,422.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 164,885 shares of company stock valued at $11,723,007. 6.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Assetmark Inc. lifted its position in Six Flags by 251.0% in the 4th quarter. Assetmark Inc. now owns 1,548 shares of the company’s stock valued at $103,000 after purchasing an additional 1,107 shares during the last quarter. Ostrum Asset Management bought a new stake in Six Flags in the 1st quarter valued at about $110,000. Bronfman E.L. Rothschild L.P. lifted its position in Six Flags by 1,477.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,130 shares of the company’s stock valued at $142,000 after purchasing an additional 1,995 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Six Flags by 61.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,438 shares of the company’s stock valued at $152,000 after purchasing an additional 927 shares during the last quarter. Finally, Weatherstone Capital Management bought a new stake in Six Flags in the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.



Several brokerages have weighed in on SIX. Zacks Investment Research raised shares of Six Flags from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Saturday, February 17th. Stifel Nicolaus reissued a “buy” rating and set a $78.00 price objective (up from $72.00) on shares of Six Flags in a report on Wednesday, February 21st. Macquarie raised their price objective on shares of Six Flags from $56.00 to $58.00 and gave the stock an “underperform” rating in a report on Thursday, April 26th. B. Riley raised their price objective on shares of Six Flags from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Finally, ValuEngine raised shares of Six Flags from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. Six Flags has a consensus rating of “Buy” and a consensus target price of $69.55.

NYSE SIX opened at $72.43 on Friday. Six Flags has a one year low of $51.25 and a one year high of $72.68. The company has a quick ratio of 0.30, a current ratio of 0.37 and a debt-to-equity ratio of -2.90. The stock has a market capitalization of $6.05 billion, a PE ratio of 34.00 and a beta of 1.13.

Six Flags (NYSE:SIX) last posted its quarterly earnings results on Tuesday, April 24th. The company reported ($0.74) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.05. Six Flags had a net margin of 19.38% and a negative return on equity of 31.58%. The business had revenue of $128.96 million during the quarter, compared to analyst estimates of $118.75 million. During the same period in the previous year, the business posted ($0.63) EPS. The company’s quarterly revenue was up 29.6% on a year-over-year basis. equities analysts forecast that Six Flags will post 2.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Thursday, May 31st were given a $0.78 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $3.12 annualized dividend and a yield of 4.31%. Six Flags’s dividend payout ratio is presently 146.48%.

About Six Flags

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.

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