Rehan Jaffer, a director at Six Flags Entertainment Corporation/NEW (NYSE:FUN), has substantially increased his ownership position in the amusement park operator. According to a Form 4 filing with the Securities and Exchange Commission, Jaffer acquired a total of 250,000 shares in two separate transactions. The combined value of these purchases is approximately $5,887,675. The filings indicate the transactions took place on June 12 and June 15, 2026.
On June 12, 2026, Jaffer purchased 125,000 shares of common stock. The weighted average price for this block was $23.6929 per share, resulting in a total cost of approximately $2,961,612.50. These shares were bought through multiple transactions, with execution prices varying between $23.4500 and $24.0650.
Three days later, on June 15, 2026, Jaffer acquired an additional 125,000 shares. This second block was purchased at a weighted average price of $23.4085 per share, totaling approximately $2,926,062.50. The price range for these specific shares fell between $23.0900 and $23.7700. Across both transactions, the weighted average prices for the 250,000 shares ranged from $23.4085 to $23.6929.
These shares are held indirectly through funds managed by H Partners Management, LLC. As the Founder and Managing Member of H Management, Jaffer is considered to have voting and dispositive power over these securities. However, he disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest. Following these recent acquisitions, Jaffer’s indirect holdings in Six Flags Entertainment Corporation/NEW total 4,900,000 shares.
Market Context and Analyst Sentiment
The insider purchases coincide with a period of significant stock performance for Six Flags. The stock has surged 58% over the past six months and is currently trading at $24.44. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value. For deeper insights into FUN’s valuation and comprehensive analysis, investors can access the detailed Pro Research Report, available for this and 1,400+ other US equities.
Recent corporate developments and analyst reactions further contextualize the insider activity. Six Flags Entertainment reported first-quarter revenue of $226 million, with an adjusted EBITDA of negative $123 million. Despite the adjusted EBITDA figure, Guggenheim responded to these results by raising its price target for Six Flags to $33, maintaining a Buy rating. Similarly, Stifel increased its price target to $28, also maintaining a Buy rating, citing improved performance in both revenue and costs over two consecutive positive quarters. UBS also raised its price target to $30, highlighting significant improvements in park traffic, as indicated by their wait times monitor.
Leadership Changes and Strategic Shifts
In corporate developments, Six Flags appointed Ash Walia as the new chief financial officer, effective June 17. Walia brings over two decades of financial leadership experience, having previously served as CFO at Hot Topic and 99 Cents Only Stores. Additionally, Six Flags shareholders elected three directors, Richard Haddrill, Chieh Huang, and Marilyn Spiegel, to its board for three-year terms expiring in 2029. Haddrill will serve as Executive Chairman, while Huang and Spiegel are returning directors. These recent developments reflect a period of strategic adjustments and optimistic projections from analysts for Six Flags.