Insider Trading Report: Six Flags Entertainment (SIX)

Gary Mick, CFO at Six Flags Entertainment (SIX), recently bought 5,812 shares. The buy increased his stake by 7 percent, and came to a total cost just under $157,000.

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  • The buy came just a few weeks after he bought 2,500 shares. And the CFO has made 5 other buys since last December, now totaling nearly $900,000. Other company insiders have been buyers as well, with the last insider sale in September 2021.

    Overall, insiders own 0.9 percent of the theme park operator.

    Six Flags is up 21 percent over the past year, slightly outperforming the S&P 500. The company is back to profitability, and shares currently trade for about 12 times forward earnings, a substantial discount to the overall market.

    The theme park saw revenues rise by just 3 percent in the past year.

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  • Action to take: Six Flags tends to see the best revenues in the summer months when its parks are fully open, as most are seasonal in nature.

    Shares are likely to continue trending higher as the summer unfolds, particularly if travel trends remain strong. However, the company hasn’t paid a dividend since 2020, and is unlikely to start soon, so income investors may want to look elsewhere.

    For traders, shares are likely to continue trending higher. The September $30 calls, last going for about $1.90, could see mid-double-digit returns, and move in-the-money in the coming months.


    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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