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Six Flags Entertainment (SIX)

Six Flags Entertainment Corporation is the world's largest regional theme park company and the largest operator of waterparks in North America, with 26 parks across the United States, Mexico and Canada. For 59 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling waterparks and unique attractions.

Company profile

Ticker
SIX
Exchange
CEO
James Reid-Anderson
Employees
Location
Fiscal year end
Former names
PREMIER PARKS INC, SIX FLAGS INC, SIX FLAGS, INC., TIERCO GROUP INC/DE/
SEC CIK
Subsidiaries
9103-2359 Quebec Inc. • Assenzio S.r.l. • Entertainment Services Latam S.A. de C.V. • Fiesta Texas Hospitality LLC • Fiesta Texas, Inc. • Flags Beverages, Inc. • Funtime Inc. • Funtime Parks, Inc. • GP Holdings Inc. • Great America LLC ...
IRS number
133995059

SIX stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$35.56
Low target
$20.00
High target
$60.00
Rosenblatt
Maintains
Buy
$28.00
12 Aug 22
Truist Securities
Maintains
Hold
$20.00
12 Aug 22
Stifel
Maintains
Buy
$28.00
12 Aug 22
Oppenheimer
Maintains
Outperform
$33.00
8 Aug 22
Citigroup
Downgraded
Neutral
$26.00
8 Jul 22
B. Riley Securities
Downgraded
Neutral
$24.00
21 Jun 22
Jefferies
Maintains
Buy
$60.00
13 May 22
Deutsche Bank
Maintains
Buy
$56.00
13 May 22
Keybanc
Maintains
Overweight
$45.00
13 May 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Aug 22
12 Aug 22
1 Jan 23
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 74.8M 74.8M 74.8M 74.8M 74.8M 74.8M
Cash burn (monthly) 59.13M 14.84M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 78.83M 19.78M n/a n/a n/a n/a
Cash remaining -4.03M 55.02M n/a n/a n/a n/a
Runway (months of cash) -0.1 3.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Aug 22 Chieh E. Huang Common Stock, par value $0.025 per share Grant Acquire A No No 0 6,760 0 6,760
15 Jun 22 Gary Mick Common Stock, par value $0.025 per share Buy Acquire P No No 23.82 1,325 31.56K 30,000
14 Jun 22 Gary Mick Common Stock, par value $0.025 per share Buy Acquire P No No 22.72 1,000 22.72K 28,675
13 Jun 22 Aimee Williams-Ramey Common Stock, par value $0.025 per share Grant Acquire A No No 0 10,000 0 18,542
13 Jun 22 Aimee Williams-Ramey Common Stock, par value $0.025 per share Grant Acquire A No No 0 8,542 0 8,542
94.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 321 311 +3.2%
Opened positions 70 70
Closed positions 60 63 -4.8%
Increased positions 105 93 +12.9%
Reduced positions 86 91 -5.5%
13F shares Current Prev Q Change
Total value 3.63B 3.54B +2.5%
Total shares 81.46M 81M +0.6%
Total puts 829.6K 1.01M -17.8%
Total calls 1.71M 1.85M -7.9%
Total put/call ratio 0.5 0.5 -10.7%
Largest owners Shares Value Change
H Partners Management 8.93M $388.24M 0.0%
Vanguard 8.16M $354.84M +6.3%
BLK Blackrock 6.53M $284.04M -0.9%
Jaffer Rehan 5.03M $308.44M 0.0%
Wellington Management 3.24M $141.16M +12.6%
Thunderbird Partners 2.86M $124.46M +1.9%
Clearbridge Advisors 2.3M $99.93M +242.2%
JPM JPMorgan Chase & Co. 2.14M $92.92M +11.2%
STT State Street 2.12M $92.14M +3.4%
Candlestick Capital Management 1.65M $71.67M -13.9%
Largest transactions Shares Bought/sold Change
Clearbridge Advisors 2.3M +1.63M +242.2%
Citadel Advisors 399.31K -1.53M -79.3%
Long Pond Capital 0 -1.5M EXIT
BCS Barclays 17.04K -1.27M -98.7%
Simcoe Capital Management 0 -873.32K EXIT
Point72 Asset Management 1.59M +817.52K +105.5%
Millennium Management 32.08K -780.36K -96.1%
Scopus Asset Management 750K +750K NEW
Schonfeld Strategic Advisors 813.85K +713.25K +709.0%
Norges Bank 0 -705.49K EXIT

Financial report summary

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Risks
  • General economic conditions may have an adverse impact on our business, financial condition or results of operations.
  • Bad or extreme weather conditions and forecasts of bad or mixed weather conditions, which may be due to climate change, can adversely impact attendance at our parks.
  • Conditions beyond our control could damage our properties and could adversely impact attendance at our parks and result in decreased revenues.
  • Our operations are seasonal.
  • Adverse litigation judgments or settlements resulting from legal proceedings in which we may be involved in the normal course of our business could adversely affect our financial condition or results of operations.
  • Failures in, material damage to, or interruptions in our information technology systems, software or websites and difficulties in updating our systems or software or implementing new systems or software could adversely affect our business or operations.
  • Cyber-attacks could have a disruptive effect on our business.
  • Failure to keep pace with developments in technology could adversely affect our operations or competitive position.
  • There is a risk of accidents occurring at our parks or competing parks which may reduce attendance and negatively impact our operations.
  • Increases in labor costs and employee health and welfare benefits could have a negative impact on our cash flows, financial condition, and results of operations.
  • We depend on a seasonal workforce to meet our operational needs.
  • The theme park and waterpark industry competes with numerous entertainment alternatives and such competition may have an adverse impact on our business, financial condition or results of operations.
  • We could be adversely affected by changes in consumer tastes and preferences for entertainment and consumer products.
  • Our insurance coverage may not be adequate to cover all possible losses that we could suffer, and our insurance costs may increase.
  • If we are not able to fund capital expenditures and invest in future attractions and projects in our parks, our revenues could be negatively impacted.
  • Incidents involving food contamination, product recalls, product liability claims and associated costs could adversely affect our reputation and our financial condition.
  • We may be unable to purchase or contract with third parties to manufacture theme park or waterpark rides and attractions.
  • We may not be able to realize the benefits of our international agreements.
  • Our leases contain default provisions that, if enforced or exercised by the landlord, could significantly impact our operations at those parks.
  • Our intellectual property rights are valuable, and any inability or material increase in the cost to protect them could adversely affect our business.
  • Unionization activities or labor disputes may disrupt our operations and affect our profitability.
  • Our operations and our ownership of property subject us to environmental, health and safety, climate change, and other regulations, which create uncertainty regarding future expenditures and liabilities.
  • A portion of our cash flow is required to be used to fund our substantial monetary obligations.
  • Our existing debt agreements contain, and future debt agreements may contain, financial and other restrictions that limit our flexibility in operating our business.
  • Changes in our credit ratings could adversely affect the price of Holdings’ common stock.
  • Holdings is a holding company and is dependent on dividends and other distributions from its subsidiaries.
  • Anti-takeover provisions in our organizational documents, debt agreements and Delaware law could delay or prevent change of control.
  • We may not be able to attract and retain key management and other key employees.
  • We may be subject to claims for infringing the intellectual property rights of others, which could be costly and result in the loss of intellectual property rights.
Management Discussion
  • Revenue recognized for the three months ended July 3, 2022, totaled $435.4 million, a decrease of $24.4 million, or 5%, compared to the $459.8 million recognized for the three months ended July 4, 2021. The decrease was attributable to an attendance decrease of 22% and a $5.0 million decrease in “Sponsorship, international agreements and accommodations” revenue. The decrease in attendance was net of a favorable visitation shift of approximately 200 thousand guests from the first quarter to the second quarter of 2022 due to the later timing of the Easter holiday in 2022, which caused some schools to schedule spring-break vacations in the second quarter of 2022 versus the first quarter in 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: anniversary, categorized, center, Engalnd, Gary, Hampden, Hunt, Justin, lesser, Mick, Monkeypox, noncancelable, nonrefundable, par, paydown, reimbursing, replacement, statuatory, submission, summer
Removed: amendment, began, beginning, centralization, certificate, closure, delay, earlier, extended, extension, Framework, improved, increasing, initial, initiative, military, prudent, retrospective, sponsor, Subtopic, suspend, suspended, temporarily, test