5 Best Leisure Stocks To Buy Now

In this article, we discuss 5 best leisure stocks to buy now. If you want to see more stocks in this selection, check out 10 Best Leisure Stocks To Buy Now. 

5. Six Flags Entertainment Corporation (NYSE:SIX)

Number of Hedge Fund Holders: 35

Six Flags Entertainment Corporation (NYSE:SIX) is a Texas-based company that owns and operates regional theme and waterparks under the Six Flags brand. The parks offer multiple thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. Six Flags Entertainment Corporation (NYSE:SIX) is one of the premier leisure stocks to buy now. 

On November 11, Deutsche Bank analyst Chris Woronka reiterated a Buy rating on Six Flags Entertainment Corporation (NYSE:SIX) but slashed the price target on the shares to $29 from $32. The analyst thinks of the Q3 results as a possible “trough.”

According to Insider Monkey’s Q3 data, 35 hedge funds were bullish on Six Flags Entertainment Corporation (NYSE:SIX), compared to 34 funds in the last quarter. Rehan Jaffer’s H Partners Management is the biggest stakeholder of the company, with 10.70 million shares worth $189.3 million. 

Here is what Merion Road Capital specifically said about Six Flags Entertainment Corporation (NYSE:SIX) in its Q3 2022 investor letter:

“I am actively looking for new ideas and started dipping my toe in Six Flags Entertainment Corporation (NYSE:SIX). SIX is another turnaround situation. Unlike PTON, SIX is backed by hard assets and has a history of stable earnings. New management is looking to grow EBITDA to $700mm vs. the $525mm range over the past several years, covid aside. Their strategy is to effectively reduce traffic and increase price, while prioritizing capital spend on high return projects. Results have admittingly been mixed so far. But even assuming no benefit from the new initiatives, the company is trading at a reasonable valuation of 11x EBIT.”