Spark Investment Management LLC Lowers Stake in Six Flags Entertainment Corp (SIX)

Spark Investment Management LLC cut its holdings in Six Flags Entertainment Corp (NYSE:SIX) by 70.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 63,900 shares of the company’s stock after selling 151,500 shares during the quarter. Spark Investment Management LLC’s holdings in Six Flags Entertainment were worth $3,153,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. MML Investors Services LLC grew its position in shares of Six Flags Entertainment by 33.3% during the 4th quarter. MML Investors Services LLC now owns 27,419 shares of the company’s stock worth $1,525,000 after buying an additional 6,842 shares during the period. Comerica Bank grew its position in shares of Six Flags Entertainment by 37.0% during the 4th quarter. Comerica Bank now owns 62,332 shares of the company’s stock worth $3,812,000 after buying an additional 16,850 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Six Flags Entertainment during the 4th quarter worth about $2,008,000. Burney Co. grew its position in shares of Six Flags Entertainment by 94.2% during the 4th quarter. Burney Co. now owns 14,641 shares of the company’s stock worth $814,000 after buying an additional 7,103 shares during the period. Finally, Emerald Advisers LLC acquired a new position in shares of Six Flags Entertainment during the 4th quarter worth about $787,000. Institutional investors own 89.72% of the company’s stock.

Several equities analysts have recently issued reports on SIX shares. Jefferies Financial Group started coverage on Six Flags Entertainment in a research report on Monday, April 22nd. They set a “hold” rating and a $56.00 target price for the company. Oppenheimer set a $63.00 target price on Six Flags Entertainment and gave the stock a “buy” rating in a research report on Thursday, March 21st. B. Riley restated a “buy” rating and set a $57.00 target price (down from $72.00) on shares of Six Flags Entertainment in a research report on Thursday, March 28th. Wells Fargo & Co cut their price objective on Six Flags Entertainment from $62.00 to $49.00 and set a “market perform” rating on the stock in a report on Monday, March 25th. Finally, TheStreet cut Six Flags Entertainment from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Shares of NYSE:SIX traded down $0.13 during trading on Monday, hitting $52.67. 6,593 shares of the company’s stock traded hands, compared to its average volume of 1,127,622. Six Flags Entertainment Corp has a 52 week low of $46.68 and a 52 week high of $73.38. The stock has a market capitalization of $4.42 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.62 and a beta of 1.15.

Six Flags Entertainment (NYSE:SIX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.82) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.04. Six Flags Entertainment had a negative return on equity of 41.58% and a net margin of 18.40%. The business had revenue of $128.19 million for the quarter, compared to analysts’ expectations of $123.63 million. During the same quarter in the previous year, the business posted ($0.74) EPS. Six Flags Entertainment’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts anticipate that Six Flags Entertainment Corp will post 2.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Wednesday, May 29th. Six Flags Entertainment’s dividend payout ratio (DPR) is presently 101.55%.

In other news, Director Usman Nabi bought 5,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $50.77 per share, for a total transaction of $253,850.00. Following the purchase, the director now owns 7,520 shares of the company’s stock, valued at approximately $381,790.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marshall Barber sold 1,275 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $56.48, for a total value of $72,012.00. Following the completion of the sale, the chief financial officer now owns 82,722 shares in the company, valued at approximately $4,672,138.56. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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Six Flags Entertainment 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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Institutional Ownership by Quarter for Six Flags Entertainment (NYSE:SIX)

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