Six Flags Entertainment (SIX) Insider Buys Nearly $250,000 Worth


 
 
05:49 08/06/2018

Over the last three years, Six Flags Entertainment SIX  has had a similar technical set up prior to a bigger move higher.

In 2016, shares of SIX pulled back around June-July, bottomed out around August, and ran from $45 to $60. In 2017, the stock pulled back around June-July, bottomed out around August, and ran from $50 to $70.

Now, it’s happening again, and the stock may be prepping for another run higher.



Perhaps that's one of the many reasons that Director Richard Roedel bought 3,974 shares for $62.85 each for $249,767.

Part of the reason for the latest pullback was earnings. In late July 2018, the company posted a second quarter profit of $74.5 million, or 88 cents a share. That missed expectations of 93 cents, though. It posted revenue of $445.4 million, which did beat expectations of $437.7 million.

For the first six months of 2018, revenue was $574 million, a 10% increase compared to the prior year period, driven primarily by a 7% increase in attendance, a 3% increase in guest spending per capita and a 12% increase in sponsorship, international licensing and accommodations revenue.

The company had net income of $12 million and diluted earnings per share of $0.14 for the first six months of 2018 as compared to a diluted loss per share of $0.06 for the same period in 2017. Adjusted EBITDA was $151 million for the first six months of 2018, an increase of 16% versus the prior year period.

Attendance for the first six months of 2018 grew to 12.1 million guests or 7 percent as compared to the first six months of 2017 thanks to five new domestic parks, the two new waterparks in Mexico and California, and the impact of 365-day operations at Six Flags Magic Mountain. Guest spending per capita increased 3% to $43.30 for the first six months of 2018, with admissions per capita increasing 5% and in-park spending per capita decreasing less than 1% to $25.30 and $18.00, respectively.


This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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