38,109 Shares in Six Flags Entertainment Corporation $FUN Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in shares of Six Flags Entertainment Corporation (NYSE:FUN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,109 shares of the company’s stock, valued at approximately $812,000.

Several other institutional investors have also recently made changes to their positions in FUN. BlackRock Inc. bought a new stake in Six Flags Entertainment during the 2nd quarter valued at $339,057,000. Rush Island Management LP bought a new position in shares of Six Flags Entertainment in the 2nd quarter worth $115,454,000. Morgan Stanley raised its position in shares of Six Flags Entertainment by 62.1% in the 4th quarter. Morgan Stanley now owns 9,473,532 shares of the company’s stock worth $145,324,000 after acquiring an additional 3,629,445 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Six Flags Entertainment in the fourth quarter valued at about $36,661,000. Finally, Barclays PLC grew its stake in Six Flags Entertainment by 203.5% in the fourth quarter. Barclays PLC now owns 836,037 shares of the company’s stock valued at $12,825,000 after purchasing an additional 1,643,885 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FUN. Guggenheim decreased their target price on shares of Six Flags Entertainment from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Citigroup reissued a “neutral” rating on shares of Six Flags Entertainment in a research report on Friday, August 7th. The Goldman Sachs Group set a $15.00 price target on Six Flags Entertainment in a report on Friday, August 7th. Oppenheimer cut their price objective on shares of Six Flags Entertainment from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, UBS Group lifted their target price on shares of Six Flags Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.93.

Insider Activity

In related news, Director Rehan Jaffer acquired 125,000 shares of Six Flags Entertainment stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $2,926,250.00. Following the purchase, the director owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. This represents a 2.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Reilly acquired 15,713 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $15.80 per share, with a total value of $248,265.40. Following the acquisition, the chief executive officer owned 297,736 shares in the company, valued at approximately $4,704,228.80. This trade represents 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. Insiders have acquired a total of 265,713 shares of company stock worth $6,135,765 over the last ninety days. 2.10% of the stock is owned by insiders.

Six Flags Entertainment Stock Performance

Shares of NYSE FUN opened at $15.54 on Friday. The company has a 50 day simple moving average of $17.55 and a two-hundred day simple moving average of $18.63. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -0.90 and a beta of 0.38. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 43.34. Six Flags Entertainment Corporation has a 12 month low of $12.51 and a 12 month high of $27.37.

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.