Buying Buzz: Six Flags Entertainment Corporation [SIX] Director Ruchim Arik W purchases 50,000 shares of the company

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 $1,102,430 were purchased by Ruchim Arik W on Sep 14. At $22.05 per share, Ruchim Arik W acquired 50,000 shares. The insider’s holdings grew to 10,700,000 shares worth approximately $223.74 million following the completion of this transaction.

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Also, JAFFER REHAN purchased 50,000 shares, netting a total of over 1,102,430 in proceeds. Following the buying of shares at $22.05 each, the insider now holds 10,700,000 shares.

Before that, Ruchim Arik W had added 100,000 shares to its account. In a trade valued at $2,298,112, the Director bought Six Flags Entertainment Corporation shares for $22.98 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $222.69 million.

As published in a research note from KeyBanc Capital Markets on August 12, 2022, Six Flags Entertainment Corporation [SIX] has been rated down from an Overweight to a Sector weight. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of June 21, 2022, B. Riley Securities has decreased its “Buy” rating to a “Neutral” for SIX. Earlier on April 26, 2022, Rosenblatt initiated its rating. Their recommendation was “a Buy” for SIX stock.

Analyzing SIX’s Price Performance

On Wednesday, Six Flags Entertainment Corporation [NYSE: SIX] plunged -8.57% to $20.91. The stock’s lowest price that day was $20.80, but it reached a high of $23.04 in the same session. During the last five days, there has been a drop of approximately -5.81%. Over the course of the year, Six Flags Entertainment Corporation shares have dropped approximately -50.89%. Shares of the company reached a 52-week high of $47.24 on 02/10/22 and a 52-week low of $19.80 on 08/11/22. A 50-day SMA is recorded $23.20, while a 200-day SMA reached $33.35. Nevertheless, trading volume fell to 5.5 million shares from 4.25 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 20.13, which, if violated, would cause prices to drop to 19.34. In the upper region, resistance lies at 22.37. The next price resistance is at 23.82. RSI (Relative Strength Index) is 39.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 97.07%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Six Flags Entertainment Corporation subject to short interest?

Stocks of Six Flags Entertainment Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.42 million shares to 7.79 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.37 million shares. A jump of 43.9% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.53.

Which companies own the most shares of Six Flags Entertainment Corporation (SIX)?

According to H Partners Management LLC filings, the company currently owns 10,500,000 shares, which is about 12.63% of the total SIX shares outstanding. The investor’s shares have appreciated by 1,025,000 from its previous 13-F filing of 9475000.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $198,077,438. BlackRock Fund Advisors acquire a 3.00% interest valued at $135.59 million while Thunderbird Partners LLP purchased a 304,389 stake. A total of 1,854,442 shares of Six Flags Entertainment Corporation were bought by Point72 Asset Management LP during the quarter, and 2,245,456 were bought by Morgan Stanley & Co. LLC. In its current portfolio, ClearBridge Investments LLC holds 2,336,167 shares valued at $51.75 million.


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