Silver Point Capital L.P. Purchases Shares of 130,000 Six Flags Entertainment Corporation $FUN

Silver Point Capital L.P. acquired a new position in shares of Six Flags Entertainment Corporation (NYSE:FUN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 130,000 shares of the company’s stock, valued at approximately $2,769,000,000. Six Flags Entertainment accounts for approximately 0.3% of Silver Point Capital L.P.’s portfolio, making the stock its 10th biggest position. Silver Point Capital L.P. owned 0.13% of Six Flags Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Bank of America Corp DE acquired a new position in Six Flags Entertainment during the 2nd quarter worth $9,066,000. Man Group plc acquired a new stake in Six Flags Entertainment in the 2nd quarter valued at about $7,134,000. Jupiter Topco LLC purchased a new position in shares of Six Flags Entertainment in the 2nd quarter valued at about $10,348,000. Canada Pension Plan Investment Board purchased a new position in shares of Six Flags Entertainment in the 2nd quarter valued at about $278,000. Finally, Manatuck Hill Partners LLC acquired a new position in shares of Six Flags Entertainment during the second quarter worth about $6,603,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Six Flags Entertainment news, Director Rehan Jaffer bought 125,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $23.41 per share, with a total value of $2,926,250.00. Following the acquisition, the director directly owned 4,900,000 shares of the company’s stock, valued at $114,709,000. The trade was a 2.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John T. Reilly purchased 15,713 shares of Six Flags Entertainment stock in a transaction that occurred on 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 transaction, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. 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. 2.10% of the stock is owned by company insiders.

Six Flags Entertainment Trading Down 2.8%

Shares of Six Flags Entertainment stock opened at $16.12 on Thursday. 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 company has a fifty day simple moving average of $18.65 and a 200-day simple moving average of $18.74. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -0.93 and a beta of 0.40. Six Flags Entertainment Corporation has a 12-month low of $12.51 and a 12-month high of $27.37.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FUN shares. Citigroup reaffirmed a “neutral” rating on shares of Six Flags Entertainment in a report on Friday, August 7th. Zacks Research cut shares of Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Truist Financial increased their target price on Six Flags Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, June 12th. Guggenheim cut their price target on Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Finally, Mizuho set a $10.00 price target on Six Flags Entertainment and gave the stock an “underperform” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Six Flags Entertainment currently has an average rating of “Hold” and an average price target 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.