Man Group plc Buys New Holdings in Six Flags Entertainment Corporation $FUN

Man Group plc bought a new position in Six Flags Entertainment Corporation (NYSE:FUN) during the 2nd quarter, Holdings Channel.com reports. The firm bought 334,932 shares of the company’s stock, valued at approximately $7,134,000.

Several other hedge funds also recently made changes to their positions in the company. 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 purchasing an additional 539 shares during the last quarter. Russell Investments Group Ltd. raised its position in Six Flags Entertainment by 26.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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. CIBC Private Wealth Group LLC grew its position in shares of Six Flags Entertainment by 26.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,588 shares of the company’s stock worth $82,000 after buying an additional 748 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Six Flags Entertainment by 10.6% in the 2nd quarter. Corient Private Wealth LLC now owns 9,290 shares of the company’s stock worth $283,000 after buying an additional 888 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Six Flags Entertainment Trading Up 2.0%

Shares of NYSE:FUN opened at $16.28 on Friday. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $27.37. The company has a market cap of $1.67 billion, a P/E ratio of -0.94 and a beta of 0.40. The stock’s fifty day moving average price is $18.30 and its 200-day moving average price is $18.71.

Insiders Place Their Bets

In other news, Director Rehan Jaffer bought 125,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This trade represents a 2.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 acquired at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the acquisition, the chief executive officer owned 297,736 shares of the company’s stock, valued at $4,704,228.80. The trade was a 5.57% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 265,713 shares of company stock worth $6,135,765. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FUN. 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 report on Friday, June 12th. JPMorgan Chase & Co. cut their target price on shares of Six Flags Entertainment from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Northcoast Research initiated coverage on shares of Six Flags Entertainment in a research report on Wednesday, July 8th. They set a “neutral” rating on the stock. UBS Group raised their price objective 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. Finally, Mizuho set a $10.00 price objective on Six Flags Entertainment and gave the company an “underperform” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment presently has an average rating of “Hold” and a consensus price target of $21.93.

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.