Six Flags Entertainment stock (SIX) has slipped to a multiyear low and the CEO post continues to be a revolving door, but one director just made the biggest insider purchase of the amusement-park operator’s shares in years.
Usman Nabi, a director since 2010, paid $253,830 for 5,000 Six Flags shares on March 8, paying an average per-share price of $50.77. It’s his first purchase of shares for his personal account.
Nabi, a portfolio manager at Browning West, now owns 7,520 Six Flags shares, according to a form he filed with the Securities and Exchange Commission. He had received 2,520 shares in a stock grant in his capacity as a company director.