In a recent transaction, Robert White, the Chief Commercial Officer of Six Flags (NYSE:SIX) Entertainment Corporation (NYSE:FUN), sold 11,113 shares of the company's common stock. The shares were sold at an average price of $46.16, resulting in a total transaction value of $512,976. Following this sale, White retains ownership of 43,948 shares in the company. The stock, currently trading at $47.98, has shown significant volatility according to InvestingPro analysis, with a P/E ratio of 131x suggesting a premium valuation.
The sale was conducted on December 13, 2024, and disclosed in a filing with the Securities and Exchange Commission. The reported price represents a weighted average, with the shares disposed of in multiple transactions ranging between $46.14 and $46.21. With a market capitalization of $4.8 billion and a "Fair" overall financial health score from InvestingPro, investors can access detailed analysis and 8 additional ProTips through the comprehensive Pro Research Report.
In other recent news, Six Flags Entertainment Corporation reported third-quarter revenue of $1.348 billion and modified EBITDA of $583 million. Jefferies, a global investment banking firm, initiated coverage on Six Flags with a Buy rating, citing the recent merger with Cedar Fair (NYSE:FUN) as a potential driver for long-term benefits. Guggenheim also maintained a Buy rating on Six Flags, raising its price target to $55 from $52. Both firms highlighted the company's strong performance and optimistic future outlook.
The merger between Six Flags and Cedar Fair is expected to yield significant synergies, estimated at $200 million by the end of 2026. Meanwhile, Six Flags' management provided guidance for fourth-quarter EBITDA to be between $205 million and $215 million. The company is also planning to invest over $1 billion in park enhancements over the next two years, which includes the introduction of seven new roller coasters and other attractions to enhance guest experiences.
These recent developments offer investors a glimpse into Six Flags' strategic roadmap for long-term growth and sustainability. The company's plans, backed by positive ratings from Jefferies and Guggenheim, reflect Six Flags' commitment to improving its financial health and guest experience.
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