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Top Buys by Top Brass: President, CEO Spanos's $498.8K Bet on SIX
By Market News Video Staff, Thursday, August 26, 2:03 PM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $498.8K by Mike Spanos, President, CEO at Six Flags Entertainment Corp (NYSE:SIX).
Spanos bets big on SIX:
Purchased
Insider
Title
Shares
Price/Share
Value
08/19/2021
Mike Spanos
President, CEO
13,200
$37.79
$498,846.48
Spanos's average cost works out to $37.79/share. Shares of Six Flags Entertainment Corp were changing hands at $41.90 at last check, trading down about 2.2% on Thursday. The chart below shows the one year performance of SIX shares, versus its 200 day moving average:
Looking at the chart above, SIX's low point in its 52 week range is $19.02 per share, with $51.75 as the 52 week high point — that compares with a last trade of $41.90.
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