The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Six Flags Entertainment Corporation shares valued at $31,562 were purchased by Mick Gary on Jun 15. At $23.82 per share, Mick Gary acquired 1,325 shares. The insider’s holdings grew to 30,000 shares worth approximately $0.63 million following the completion of this transaction.
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Also, Mick Gary purchased 1,000 shares, netting a total of over 22,720 in proceeds. Following the buying of shares at $22.72 each, the insider now holds 28,675 shares.
Before that, Mick Gary had added 1,000 shares to its account. In a trade valued at $24,345, the CHIEF FINANCIAL OFFICER bought Six Flags Entertainment Corporation shares for $24.34 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.58 million.
As published in a research note from B. Riley Securities on June 21, 2022, Six Flags Entertainment Corporation [SIX] has been rated down from a Buy to a Neutral and the price target has been revised to $24 from $55. This represents a 12.42% premium over Thursday’s closing price. Analysts at Rosenblatt started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of March 04, 2022, Deutsche Bank has increased its “Hold” rating to a “Buy” for SIX. Earlier on February 10, 2022, Citigroup initiated its rating. Their recommendation was “a Buy” for SIX stock.
Analyzing SIX’s Price Performance
On Thursday, Six Flags Entertainment Corporation [NYSE: SIX] plunged -2.50% to $21.02. The stock’s lowest price that day was $20.06, but it reached a high of $21.75 in the same session. During the last five days, there has been a drop of approximately -8.89%. Over the course of the year, Six Flags Entertainment Corporation shares have dropped approximately -50.63%. Shares of the company reached a 52-week high of $47.24 on 02/10/22 and a 52-week low of $19.91 on 06/16/22. A 50-day SMA is recorded $31.65, while a 200-day SMA reached $39.31. Nevertheless, trading volume fell to 4.28 million shares from 2.59 million shares the previous day.
Support And Resistance Levels for Six Flags Entertainment Corporation (SIX)
According to the 24-hour chart, there is a support level at 20.14, which, if violated, would cause prices to drop to 19.25. In the upper region, resistance lies at 21.83. The next price resistance is at 22.63. RSI (Relative Strength Index) is 27.29 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.66, which suggests the price will decrease in the coming days. Percent R is at 89.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Six Flags Entertainment Corporation (SIX)?
According to H Partners Management LLC filings, the company currently owns 9,475,000 shares, which is about 10.96% of the total SIX shares outstanding. The investor’s shares have appreciated by 550,000 from its previous 13-F filing of 8925000.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $256,129,320. BlackRock Fund Advisors acquire a 1.88% interest valued at $174.43 million while Wellington Management Co. LLP purchased a 362,407 stake. A total of 53,377 shares of Six Flags Entertainment Corporation were bought by Thunderbird Partners LLP during the quarter, and 1,625,966 were bought by ClearBridge Investments LLC. In its current portfolio, SSgA Funds Management, Inc. holds 2,118,073 shares valued at $62.17 million.
In terms of Six Flags Entertainment Corporation share price expectations, FactSet research, analysts set an average price target of $47.08 in the next 12 months, up nearly 141.19% from the previous closing price of $21.56. Analysts anticipate Six Flags Entertainment Corporation stock to reach $60.00 by 2022, with the lowest price target being $24.00. In spite of this, 14 analysts ranked Six Flags Entertainment Corporation stock as a Buy at the end of 2022. On January 18, 2022, Oppenheimer assigned a price target of “an Outperform” to the stock and upgraded coverage with a $54.