BlackRock Inc. Takes $339.06 Million Position in Six Flags Entertainment Corporation $FUN

Key Points

• BlackRock acquired a new 15.58% stake in Six Flags Entertainment, purchasing 15.9 million shares valued at approximately $339.1 million. Institutional investors collectively own 64.65% of the company.
• Company insiders have also been buying shares: executives and directors purchased 265,713 shares worth about $6.1 million over the past 90 days.
• Six Flags shares opened at $16.67, below the analyst consensus target of $21.93. Despite a consensus “Hold” rating, recent analyst actions were mixed, with some firms cutting targets and others maintaining outperform ratings.

BlackRock Inc. acquired a new position in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,918,184 shares of the company's stock, valued at approximately $339,057,000. BlackRock Inc. owned 15.58% of Six Flags Entertainment as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FUN. Atlas Wealth LLC purchased a new position in shares of Six Flags Entertainment during the first quarter valued at approximately $26,000. Danske Bank A S purchased a new position in Six Flags Entertainment during the 3rd quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in Six Flags Entertainment in the 4th quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its stake in Six Flags Entertainment by 259.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after purchasing an additional 722 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Six Flags Entertainment by 36.1% during the first quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company's stock worth $36,000 after purchasing an additional 539 shares during the last quarter. Institutional investors own 64.65% of the company's stock.

Insider Activity

In other Six Flags Entertainment news, CEO John T. Reilly purchased 15,713 shares of Six Flags Entertainment stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $15.80 per share, with a total value of $248,265.40. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 acquired at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the purchase, the director owned 4,900,000 shares in the company, valued at approximately $114,709,000. This trade represents a 2.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 265,713 shares of company stock valued at $6,135,765. Company insiders own 2.10% of the company's stock.

Six Flags Entertainment Stock Performance

Shares of FUN opened at $16.67 on Wednesday. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a 50-day moving average of $18.83 and a two-hundred day moving average of $18.75. The stock has a market cap of $1.71 billion, a P/E ratio of -0.96 and a beta of 0.40. Six Flags Entertainment Corporation has a one year low of $12.51 and a one year high of $27.37.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FUN. Oppenheimer dropped their price objective on Six Flags Entertainment from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Citizens Jmp lowered their target price on Six Flags Entertainment from $29.00 to $24.00 and set a "market outperform" rating for the company in a report on Friday, August 7th. Wall Street Zen downgraded Six Flags Entertainment from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Zacks Research lowered Six Flags Entertainment from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus set a $23.00 price objective on Six Flags Entertainment in a report on Friday, August 7th. Seven 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, the company has a consensus rating of "Hold" and a consensus target price of $21.93.

Six Flags Entertainment Company Profile

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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