Fidelity increases stake in Six Flags

Posted | Contributed by coasterguts

The nation's largest mutual fund is now the largest shareholder in Six Flags with 15%, surpassing Redskins owner Daniel M. Snyder.

Read the brief from The Washington Post.

First Citigroup buys an 8.7% stake in SF and now Fidelity ups their stake to 15%. Is something going on behind the scenes?

Fidelity = 15%

Red Zone = 11%

Cascade = 10%

Citigroup = 8%

44% of the stock is tied up in 4 companies.*** This post was edited by coasterguts 2/16/2006 9:18:23 AM ***

The stock is low priced right now, compared to what it used to be. So if new management is successful in getting the stock back up, these 4 companies will make a fortune.

That, or some of these holding companies are moving in to eventually take control of the board if the Shapiro & Co. are not successful.

Red Zone = Snyder (Shapiro)

Cascade = Bill Gates
*** This post was edited by redman822 2/16/2006 10:01:02 AM ***

That's the way it usually goes, coasterguts. A majority of the shares in most companies is owned by a handful of financial companies (banks, etc.). It's called "institutional ownership." Generally, if those companies are buying the stock, they're thinking it's going to make money, so it's a positive sign for the company. Of course, they're not always right either.
I see that RGB. I also know one company dumped 8% of it's stock. Just seems like an awful lot of trading going on for a company that hasn't produced any results.
That's why its called gambling. :)


rollergator's avatar
If something is going on behind the scenes, maybe we should ask Martha Stewart...

"It's only gambling if you invest WITHOUT insider information"... ;)

P.S. My *stake* is .00000000001%...what do I win? :)

If you look at the changes they're making and given the reputation of the folks that are in leadership positions right now, why would you not buy a stock that's priced so low? It's kind of like trying to decide if betting that ace-high flush is a good idea or not ... sure there's a few things that could beat ya, but chances are, that pot's yours!
Flush... pot... see it IS all about those bathroom attendants. :)

Maybe we should try to find out who the official bathroom supply company, er partner, of Six Flags will be and invest in them.

Crap, there goes my 401k
RGB, I believe the concessions at Fedex Field are contracted out to Centerplate concessions. I foget who the bathroom contract was at SFA.
This stock is going to hit 15 bucks buy June...........................*** This post was edited by THE IGMAN 2/17/2006 10:01:17 AM ***
Yeah and probably fall back to three bucks by Sept. When they realize nothings changed.

Chuck, who hopes not but knows a lot of people getting out at triple their money now

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