[ad_1]
Investment advisor Merion Road Capital released its investor letter for the third quarter of 2022.can make a copy download here. In the third quarter, the Merion Road Small Cap Fund returned -11.5% versus the Russell 2000’s 2.1% return and its Long Only Large Cap Fund returned -6.4% versus the S&P 500’s return The rate was -4.9%. Additionally, you can check out the fund’s top 5 holdings to see its top picks for 2022.
Merion Road Capital discusses Six Flags Entertainment (NYSE:six) in its third-quarter 2022 investor letter. Six Flags Entertainment (NYSE: SIX), headquartered in Arlington, Texas, is a theme and water park operator. On October 14, 2022, shares of Six Flags Entertainment (NYSE: SIX) closed at $19.56 per share. With a 1-month return of -13.14%, Six Flags Entertainment (NYSE: SIX) has lost 54.44% over the past 52 weeks. Six Flags Entertainment (NYSE: SIX) has a market capitalization of $1.594 billion.
Here’s what Merion Road Capital specifically said about Six Flags Entertainment (NYSE: SIX) in its Q3 2022 investor letter:
“I’m actively looking for new ideas and getting started Six Flags Entertainment (NYSE: VI). Six is another turnaround situation. Unlike PTON, SIX is backed by hard assets and has a history of stable returns. The new management is looking to increase EBITDA to $700, compared to the $525 range over the past few years, excluding the coronavirus. Their strategy is to effectively reduce traffic and increase prices, while prioritizing capital expenditures for high-return projects. Granted, the results so far have been mixed. But even assuming no benefit from the new move, the company still trades at a fair valuation of 11 times EBIT. “
Byelikova Oksana/Shutterstock.com
Six Flags Entertainment (NYSE: SIX) is not on our list The 30 most popular stocks among hedge funds. According to our database, as of the end of the second quarter, 34 hedge fund portfolios held Six Flags Entertainment (NYSE: SIX), up from 38 in the prior quarter.
We discussed Six Flags Entertainment (NYSE: SIX) another article And shared Baron Funds’ views on the company.Also, check out our Hedge Fund Investor Letter Q3 2022 More investor letters from hedge funds and other major investors page.
recommended article:
Disclosure: None.This article was originally published in Insider Monkey.
[ad_2]
Source link
