"An group that includes activist investor Jana Partners and NFL player Travis Kelce says it has accumulated one of the largest ownership stakes in Six Flags Entertainment and intends to press the company's leadership on ways to improve the struggling amusement park operator's business. Jana said Tuesday that the investor group now owns an economic interest of approximately 9% in Six Flags. The group plans to engage with Six Flags' management and board of directors to discuss ways to enhance shareholder value"
"Shares in the Charlotte, North Carolina-based Six Flags surged 17.7% on the news. The shares added another 5.1% gain in after-hours trading. Even with Tuesday's rally, the company's shares are down about 47% so far this year. Six Flags reported a loss of $319.4 million for the first half of the year. The company said attendance fell 9% in the three months ended June 29, due partly to bad weather and a challenged consumer in most of the markets it operates in."
An investor group led by Jana Partners and including NFL player Travis Kelce, consumer executive Glenn Murphy and technology executive Dave Habiger holds an economic interest of approximately 9% in Six Flags. The group intends to engage with Six Flags' management and board of directors to seek ways to enhance shareholder value and improve visitor experience. Six Flags shares jumped on the news but remain down about 47% year-to-date. The company reported a $319.4 million loss for the first half and said attendance fell 9% in the quarter ended June 29, citing bad weather and weak consumer demand.
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