Bank of America Corp DE Has $11.54 Million Stock Holdings in Six Flags Entertainment Corporation $FUN

Bank of America Corp DE decreased its position in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 76.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 650,039 shares of the company's stock after selling 2,089,681 shares during the quarter. Bank of America Corp DE owned approximately 0.64% of Six Flags Entertainment worth $11,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 722 shares during the period. Danske Bank A S bought a new stake in shares of Six Flags Entertainment in the third quarter valued at approximately $27,000. Atlas Wealth LLC acquired a new stake in shares of Six Flags Entertainment in the first quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Six Flags Entertainment in the fourth quarter worth $28,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Six Flags Entertainment by 36.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company's stock worth $36,000 after acquiring an additional 539 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FUN has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Six Flags Entertainment from $26.00 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Guggenheim dropped their price objective 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. Mizuho set a $10.00 price objective on shares of Six Flags Entertainment and gave the company an "underperform" rating in a research report on Friday, August 7th. The Goldman Sachs Group set a $15.00 target price on shares of Six Flags Entertainment in a research note on Friday, August 7th. Finally, Northcoast Research assumed coverage on Six Flags Entertainment in a research report on Wednesday, July 8th. They set a "neutral" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.93.

Insider Transactions at Six Flags Entertainment

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

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock opened at $16.79 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of -0.97 and a beta of 0.40. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 43.34. The company has a 50-day simple moving average of $19.11 and a 200 day simple moving average of $18.77. Six Flags Entertainment Corporation has a 12-month low of $12.51 and a 12-month high of $27.37.

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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