425,649 Shares in Six Flags Entertainment Corporation $FUN Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 425,649 shares of Six Flags Entertainment in the second quarter, worth approximately $9.1 million and representing about 0.42% of the company.
• Several other institutional investors also initiated positions, while institutions collectively own 64.65% of FUN. CEO John Reilly separately purchased 15,713 shares under a pre-arranged trading plan.
• Six Flags shares opened at $12.34, near their one-year low, with analysts holding a consensus “Hold” rating and an average price target of $21.50.

Bank of America Corp DE purchased a new stake in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 425,649 shares of the company's stock, valued at approximately $9,066,000. Bank of America Corp DE owned about 0.42% of Six Flags Entertainment as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of FUN. Man Group plc bought a new stake in Six Flags Entertainment during the 2nd quarter worth approximately $7,134,000. Legal & General Group Plc acquired a new position in Six Flags Entertainment during the 2nd quarter worth about $4,808,000. Lee Danner & Bass Inc. bought a new stake in shares of Six Flags Entertainment in the 1st quarter valued at about $2,089,000. Havemeyer Place LP bought a new stake in shares of Six Flags Entertainment in the 4th quarter valued at about $1,289,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Six Flags Entertainment in the second quarter valued at about $11,975,000. 64.65% of the stock is currently owned by institutional investors.

Six Flags Entertainment Trading Down 0.5%

NYSE:FUN opened at $12.34 on Friday. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. The firm has a 50-day moving average of $15.62 and a 200-day moving average of $18.24. The company has a market cap of $1.26 billion, a PE ratio of -0.71 and a beta of 0.38. Six Flags Entertainment Corporation has a one year low of $12.00 and a one year high of $27.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Six Flags Entertainment from $26.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Guggenheim dropped their target price on shares of Six Flags Entertainment from $33.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Six Flags Entertainment in a research report on Wednesday, August 12th. Wall Street Zen downgraded Six Flags Entertainment from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Finally, Oppenheimer cut their price target on Six Flags Entertainment from $26.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Seven equities 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's stock. Based on data from MarketBeat.com, Six Flags Entertainment has an average rating of "Hold" and a consensus price target of $21.50.

Insider Buying and Selling

In related news, CEO John Reilly acquired 15,713 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. This trade represents a 5.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company's stock.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation operates amusement and water parks across the United States, Canada and Mexico. The company's portfolio includes parks operating under the Six Flags and Cedar Fair brands, as well as well-known destinations such as Cedar Point, Kings Island, Knott's Berry Farm and Canada's Wonderland.

Its parks provide roller coasters, family rides, water attractions, seasonal events, live entertainment, dining and retail experiences. The company generates revenue primarily through admission tickets, season passes, memberships, food and beverage sales, merchandise, sponsorships and related hospitality offerings.

Six Flags Entertainment was formed through the merger of Six Flags Entertainment Corporation and Cedar Fair, L.P., which was completed in July 2024.

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