Deutsche Bank AG Makes New $2.32 Million Investment in Six Flags Entertainment Corporation $FUN

Deutsche Bank AG bought a new stake in shares of Six Flags Entertainment Corporation (NYSE:FUN) in the second quarter, HoldingsChannel reports. The institutional investor bought 108,777 shares of the company’s stock, valued at approximately $2,317,000.

Several other hedge funds have also made changes to their positions in FUN. Morgan Stanley grew its position in shares of 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 buying an additional 3,629,445 shares in the last quarter. Darlington Partners Capital Management LP raised its holdings in shares of Six Flags Entertainment by 20.2% in the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock valued at $264,741,000 after acquiring an additional 1,460,000 shares in the last quarter. UBS Group AG raised its holdings in shares of 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 acquiring an additional 4,446,104 shares in the last quarter. Dendur Capital LP lifted its stake in Six Flags Entertainment by 6.2% in the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company’s stock worth $75,987,000 after acquiring an additional 290,000 shares during the period. Finally, Rush Island Management LP purchased a new stake in Six Flags Entertainment in the second quarter worth about $115,454,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Truist Financial upped their price target 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. JPMorgan Chase & Co. dropped their price objective 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. The Goldman Sachs Group set a $15.00 price objective on shares of Six Flags Entertainment in a report on Friday, August 7th. Finally, Citigroup reissued a “neutral” rating on shares of Six Flags Entertainment in a research note 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.93.

Six Flags Entertainment Price Performance

FUN opened at $15.96 on Friday. The firm has a market capitalization of $1.63 billion, a PE ratio of -0.92 and a beta of 0.40. 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 business’s 50-day moving average is $18.47 and its two-hundred day moving average is $18.72. Six Flags Entertainment Corporation has a 1 year low of $12.51 and a 1 year high of $27.37.

Insider Transactions at Six Flags Entertainment

In other news, Director Rehan Jaffer bought 125,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average price of $23.41 per share, with a total value of $2,926,250.00. Following the completion of the transaction, the director directly owned 4,900,000 shares of the company’s stock, valued at approximately $114,709,000. The trade was a 2.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John T. Reilly bought 15,713 shares of the stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $15.80 per share, with a total value of $248,265.40. Following the completion of the purchase, the chief executive officer owned 297,736 shares of the company’s stock, valued at $4,704,228.80. This represents a 5.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought a total of 265,713 shares of company stock worth $6,135,765 over the last 90 days. Company insiders own 2.10% of the company’s stock.

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.