Six Flags to buy Darien Lake

Other research analysts also recently issued reports about the stock. Assetmark Inc. grew its position in shares of Six Flags by 251.0% during the fourth quarter. BlackRock Inc. now owns 6,473,311 shares of the company's stock worth $403,028,000 after purchasing an additional 294,624 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Six Flags by 2.0% during the 1st quarter. Washington Trust Bank now owns 2,159 shares of the company's stock worth $116,000 after buying an additional 429 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Six Flags during the fourth quarter valued at about $151,000. The number of shares now owned by investors are 83.19 mln. Bank of New York Mellon Corp now owns 1,424,909 shares of the company's stock worth $94,855,000 after purchasing an additional 13,180 shares during the last 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 in the last quarter.

Institutional investors have recently modified their holdings of the company. Six Flags Entertainment Corporation (NYSE:SIX) has risen 3.06% since May 22, 2017 and is uptrending. The shares have slowed down in recent weeks, with their price down about -6.99% in the past three months. Following the completion of the transaction, the vice president now owns 15,738 shares in the company, valued at $1,033,514.46.

The transaction is expected to be closed by June.

Among 5 analysts covering Six Flags (NYSE:SIX), 4 have Buy rating, 1 Sell and 0 Hold. Six Flags owned Darien Lake previously as well. Macquarie upped their price objective on shares of Six Flags from $56.00 to $58.00 and gave the company an "underperform" rating in a research report on Thursday, April 26th. FBR & Co raised their target price on Six Flags Entertainment Corporation New from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, October 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company's stock. KeyBanc Capital Markets maintained it with "Buy" rating and $65.0 target in Monday, October 23 report. Corbyn Investment Management Inc sold 86,603 shares as the company's stock declined 10.68% with the market. Six Flags has a 52 week low of $51.25 and a 52 week high of $70.44. The company has a quick ratio of 0.30, a current ratio of 0.37 and a debt-to-equity ratio of -2.90.

Wedbush also issued estimates for Six Flags' Q4 2018 earnings at $0.40 EPS and FY2019 earnings at $3.00 EPS. The company reported ($0.74) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.79) by $0.05. Six Flags Entertainment Corporation New had a net margin of 9.14% and a negative return on equity of 297.44%. The firm had revenue of $128.96 million during the quarter, compared to analysts' expectations of $118.75 million. They expect $0.93 EPS, up 57.63 % or $0.34 from last year's $0.59 per share. Shareholders of record on Thursday, May 31st will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $2.56 annualized dividend and a dividend yield of 4.24%. The more parks that Six Flags can add to its line-up, the more compelling it can make the purchase of a membership, which are good at all of its parks across the continent.

All five parks were acquired from Premier Parks - which long-time Theme Park Insider readers might recognize as the original name of the company that acquired and renamed itself Six Flags back in 1998.

Six Flags Entertainment has been floating the idea of adding more water parks to its portfolio for more than a year - and started talking seriously last month about acquiring more theme parks too.

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