SIX - Six Flags gains after top holder increases stake

Theme park operator Six Flags Entertainment (NYSE:SIX) rose 2.5% after top holder H Partners Management increased it stake. H Partners now holds a 10.4% stake, up from 9.2% in its previous filing. The investor purchased 1M shares between Nov. 16  and December 13, according to its latest 13/D filing. H Partners in January 2020 said it had engaged with the Six Flags board after closely monitoring the developments with the theme park operator and Six Flags added a board member proposed by H Partners. H Partners, which held a stake of 6.5% in Six Flags at the time, said it agreed not to increase its ownership stake to over 14.9%. Dealreporter highlighted the increased H Partners stake earlier. Yesterday, Six Flags Entertainment rallied after Goldman Sachs and Jefferies fire off bullish breakdown. Last month, Six Flags rallied after surprise CEO switch.

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Six Flags gains after top holder increases stake