Manatuck Hill Partners LLC Buys New Holdings in Six Flags Entertainment Corporation $FUN

Manatuck Hill Partners LLC purchased a new position in Six Flags Entertainment Corporation (NYSE:FUN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 310,000 shares of the company’s stock, valued at approximately $6,603,000. Six Flags Entertainment accounts for approximately 2.2% of Manatuck Hill Partners LLC’s holdings, making the stock its 12th biggest position. Manatuck Hill Partners LLC owned about 0.30% of Six Flags Entertainment at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FUN. BlackRock Inc. acquired a new position in Six Flags Entertainment during the second quarter valued at $339,057,000. UBS Group AG boosted its holdings in Six Flags Entertainment by 533.4% in the fourth 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 last quarter. Rush Island Management LP acquired a new stake in Six Flags Entertainment during the 2nd quarter worth about $115,454,000. Morgan Stanley grew its position in Six Flags Entertainment by 62.1% during the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after purchasing an additional 3,629,445 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Six Flags Entertainment during the 4th quarter valued at about $36,661,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Six Flags Entertainment

In related news, CEO John T. Reilly bought 15,713 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $15.80 per share, for a total transaction of $248,265.40. Following the completion of the transaction, the chief executive officer directly owned 297,736 shares in the company, valued at $4,704,228.80. This trade represents a 5.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rehan Jaffer bought 125,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 265,713 shares of company stock worth $6,135,765. Insiders own 2.10% of the company’s stock.

Six Flags Entertainment Price Performance

Six Flags Entertainment stock opened at $16.67 on Wednesday. The company’s fifty day moving average price is $18.83 and its 200 day moving average price is $18.75. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $27.37. The stock has a market capitalization of $1.71 billion, a P/E ratio of -0.96 and a beta of 0.40. The company has a debt-to-equity ratio of 43.34, a quick ratio of 0.36 and a current ratio of 0.42.

Analyst Ratings Changes

A number of analysts have recently commented on FUN shares. The Goldman Sachs Group set a $15.00 target price on Six Flags Entertainment in a research note on Friday, August 7th. Zacks Research cut Six Flags Entertainment from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Northcoast Research assumed coverage on Six Flags Entertainment in a research report on Wednesday, July 8th. They issued a “neutral” rating on the stock. Finally, Guggenheim dropped their price objective on shares of 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. Seven investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.