225,750 Shares in Six Flags Entertainment Corporation $FUN Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 225,750 Six Flags shares worth approximately $4.8 million, representing a 0.22% stake. Institutional investors collectively own 64.65% of the company.
• Six Flags shares opened at $15.10, near the lower end of their 52-week range of $12.51 to $27.37. The stock has an average analyst rating of Hold and a consensus price target of $21.93.
• Company insiders bought 265,713 shares worth about $6.1 million during the latest quarter, including purchases by Director Rehan Jaffer and CEO John T. Reilly.

Legal & General Group Plc purchased a new stake in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 225,750 shares of the company's stock, valued at approximately $4,808,000. Legal & General Group Plc owned 0.22% of Six Flags Entertainment at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Six Flags Entertainment during the 2nd quarter valued at about $339,057,000. Rush Island Management LP acquired a new position in Six Flags Entertainment in the second quarter worth about $115,454,000. Morgan Stanley lifted its stake in Six Flags Entertainment by 62.1% during the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock worth $145,324,000 after purchasing an additional 3,629,445 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Six Flags Entertainment during the fourth quarter worth about $36,661,000. Finally, Barclays PLC boosted its holdings in Six Flags Entertainment by 203.5% during the fourth quarter. Barclays PLC now owns 836,037 shares of the company's stock valued at $12,825,000 after purchasing an additional 1,643,885 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company's stock.

Six Flags Entertainment Stock Performance

NYSE:FUN opened at $15.10 on Friday. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $27.37. The firm has a 50 day moving average of $17.67 and a 200-day moving average of $18.65. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. The stock has a market capitalization of $1.55 billion, a P/E ratio of -0.87 and a beta of 0.38.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FUN shares. Zacks Research cut Six Flags Entertainment from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, August 11th. The Goldman Sachs Group set a $15.00 price target on Six Flags Entertainment in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price target on Six Flags Entertainment from $26.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. Citigroup reiterated a "neutral" rating on shares of Six Flags Entertainment in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Six Flags Entertainment in a report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $21.93.

Insider Buying and Selling at Six Flags Entertainment

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the completion of the acquisition, the director owned 4,900,000 shares of the company's stock, valued at approximately $114,709,000. This trade represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John T. Reilly bought 15,713 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer owned 297,736 shares of the company's stock, valued at $4,704,228.80. This represents a 5.57% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders acquired 265,713 shares of company stock valued at $6,135,765. Corporate insiders own 2.10% of the company's stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.

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