SIX - Six Flags rallies after H Partners increases stake to over 12%

Six Flags Entertainment Corporation ( NYSE: SIX ) jumped in afternoon trading on Tuesday after director Arik Ruchim bought shares.

Ruchim's H Partners Management reported the purchase of 500K shares in two transaction of 250K apiece on August 19 and August 22. The transactions were executed at share prices of $22.72 and $23.76, respectively.

H Partners now holds 10.5M shares of Six Flags Entertainment ( SIX ) for a 12.6% stake, which makes it the largest shareholder of the theme park operator, according to Bloomberg.

Ruchim joined the Six Flags board in January of 2020 just before the pandemic closed down operations for many of the company's parks.

Shares of SIX rallied 6.55% in afternoon trading to $24.07 vs. the 52-week trading range of $19.81 to $47.24.

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