Six Flags Entertainment Corp (NYSE:SIX) Sees Large Decrease in Short Interest
Six Flags Entertainment Corp (NYSE:SIX) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 4,863,500 shares, a drop of 13.0% from the July 31st total of 5,592,200 shares. Currently, 6.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is presently 4.3 days.
Several equities analysts have commented on SIX shares. ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. B. Riley lifted their target price on shares of Six Flags Entertainment from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Co raised shares of Six Flags Entertainment from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $56.00 in a research report on Tuesday, July 9th. Finally, Wedbush raised shares of Six Flags Entertainment from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $62.00 in a research report on Wednesday, June 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Six Flags Entertainment presently has an average rating of “Buy” and a consensus price target of $62.70.
In other Six Flags Entertainment news, CFO Marshall Barber sold 468 shares of Six Flags Entertainment stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $58.98, for a total transaction of $27,602.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 643 shares of company stock worth $37,865. Insiders own 5.90% of the company’s stock.
Shares of SIX stock traded down $1.73 during trading hours on Friday, hitting $55.57. 1,814,586 shares of the company were exchanged, compared to its average volume of 1,217,614. The firm has a fifty day simple moving average of $55.58 and a 200 day simple moving average of $52.71. Six Flags Entertainment has a 52-week low of $46.68 and a 52-week high of $71.27. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.07 and a beta of 1.02.
Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. Six Flags Entertainment had a net margin of 18.35% and a negative return on equity of 41.03%. The company had revenue of $477.20 million during the quarter, compared to analyst estimates of $468.44 million. During the same quarter last year, the business posted $0.88 EPS. Six Flags Entertainment’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Six Flags Entertainment will post 2.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.28 annualized dividend and a dividend yield of 5.90%. Six Flags Entertainment’s payout ratio is currently 101.55%.
About Six Flags Entertainment
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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