15,918,184 Shares in Six Flags Entertainment Corporation $FUN Purchased by BlackRock Inc.

BlackRock Inc. purchased a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,918,184 shares of the company’s stock, valued at approximately $339,057,000. BlackRock Inc. owned approximately 0.16% of Six Flags Entertainment at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FUN. UBS Group AG lifted its stake in shares of Six Flags Entertainment by 533.4% in the 4th quarter. UBS Group AG now owns 5,279,720 shares of the company’s stock valued at $80,991,000 after purchasing an additional 4,446,104 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Six Flags Entertainment in the first quarter worth about $2,089,000. Havemeyer Place LP acquired a new position in shares of Six Flags Entertainment in the fourth quarter worth about $1,289,000. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Six Flags Entertainment by 106.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 128,276 shares of the company’s stock worth $1,968,000 after acquiring an additional 66,263 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of Six Flags Entertainment by 70.7% during the 4th quarter. ING Groep NV now owns 1,046,000 shares of the company’s stock worth $16,046,000 after acquiring an additional 433,100 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays reduced their price target on Six Flags Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 7th. UBS Group boosted their price target on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Truist Financial upped their price objective on shares of Six Flags Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Northcoast Research initiated coverage on shares of Six Flags Entertainment in a research report on Wednesday, July 8th. They issued a “neutral” rating on the stock. Finally, Zacks Research downgraded shares of Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Seven equities research 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 presently has an average rating of “Hold” and an average target price of $21.93.

Six Flags Entertainment Trading Down 1.4%

Shares of Six Flags Entertainment stock opened at $16.67 on Wednesday. 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 stock’s 50 day simple moving average is $18.83 and its 200-day simple moving average is $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 1-year low of $12.51 and a 1-year high of $27.37.

Insiders Place Their Bets

In related news, Director Rehan Jaffer purchased 125,000 shares of Six Flags Entertainment stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the acquisition, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John T. Reilly acquired 15,713 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer directly owned 297,736 shares of the company’s stock, valued at $4,704,228.80. This trade represents a 5.57% increase in their position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 265,713 shares of company stock worth $6,135,765 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.