Silver Point Capital L.P. bought a new position in Six Flags Entertainment Corporation (NYSE:FUN – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 130,000 shares of the company’s stock, valued at approximately $2,769,000,000. Six Flags Entertainment accounts for 0.3% of Silver Point Capital L.P.’s portfolio, making the stock its 10th largest position.
A number of other institutional investors have also recently added to or reduced their stakes in FUN. Russell Investments Group Ltd. grew its position in Six Flags Entertainment by 26.1% during the second quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock worth $86,000 after buying an additional 586 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 722 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Six Flags Entertainment by 2.5% during the 2nd quarter. Invesco Ltd. now owns 236,798 shares of the company’s stock worth $7,206,000 after acquiring an additional 5,775 shares in the last quarter. State Street Corp grew its holdings in shares of Six Flags Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 3,465,487 shares of the company’s stock worth $105,455,000 after acquiring an additional 27,848 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Six Flags Entertainment by 249.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 651,844 shares of the company’s stock valued at $19,836,000 after purchasing an additional 465,572 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Insider Activity
In other news, Director Rehan Jaffer bought 125,000 shares of Six Flags Entertainment 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. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John T. Reilly purchased 15,713 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $15.80 per share, for a total transaction 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. The trade was a 5.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 265,713 shares of company stock valued at $6,135,765 in the last three months. 2.10% of the stock is currently owned by corporate insiders.
Six Flags Entertainment Stock Performance
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on FUN. UBS Group boosted their target price on Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Barclays cut their price target on Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Wall Street Zen lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Six Flags Entertainment in a report on Wednesday, August 12th. Finally, Stifel Nicolaus set a $23.00 target price on shares of Six Flags Entertainment in a research report on Friday, August 7th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.93.
Check Out Our Latest Stock Report on FUN
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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