Insider Trading Report: Six Flags Entertainment (SIX)

Gary Mick, CFO at Six Flags Entertainment (SIX), recently added 5,000 shares. The buy increased his holdings by 6 percent, and came to a total cost of $133,125.

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  • This marks the first insider activity at the company so far this year. The CFO was also the most recent buyer with 3 separate buys last December, when the share price was more than 20 percent lower than where it trades today.

    Overall, company insiders own 0.9 percent of shares.

    The theme park operator is down 10 percent over the last year. Revenues are up 3 percent, but the company failed to earn a profit in that time.

    This year may be different, as travel spending looks robust based on hotel and airline earnings reports so far. Also, Six Flags tends to see its best revenues in the summer months when all of its locations are open full time.

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  • Action to take: Shares could move higher from here, especially if the park sees strong summer numbers. Six Flags eliminated its dividend in 2020, so investors looking for an income will have to look elsewhere.

    For traders, the September $30 calls, last going for about $1.60, could return mid-to-high double-digit returns. Traders should look to take early profits on any jump in shares.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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