A disappointing earnings report in July hasn’t stopped Six Flags’ CEO, Jim Reid-Anderson, from buying $3 million worth of the company’s shares.
‘It’s the perfect time to buy,’ he told CNBC’s ‘Mad Money’ host, Jim Cramer.
According to Reid-Anderson, the current stock price doesn’t reflect the true value of the theme park giant which, he says, has achieved record highs in terms of revenue and profitability in the second quarter.
He added that the current decline in share value during the third-quarter period simply reflected a pattern that has been repeated in six out of the last seven years.
‘Right now, it’s an opportunity’, he said.
He went on to reaffirm Six Flags’ position as a ‘truly global brand’ and cited innovations such as the all-season dining pass as major growth opportunities.
He added: “We’ve got 56 years in this industry of proving that we can do this and we have 20 parks.”
The regional theme park company is continuing to build its international portfolio with locations in Mexico, in Canada, China and the United Arab Emirates.