Six Flags' stock rallies as activist investor takes stake - with help from Travis Kelce
By Bill Peters
Jana said it plans to reach out to Six Flags' board and management 'regarding opportunities to enhance shareholder value and improve the guest experience'
Shares of Six Flags are down 46.8% so far this year, as inflation and harsh weather have kept consumers away.
Over the summer, NFL star Travis Kelce gave a lift to shares of American Eagle Outfitters Inc. On Tuesday, he helped do the same for Six Flags Entertainment Corp.
Shares of Six Flags (FUN) jumped nearly 18% during regular trading Tuesday, after activist investor Jana Partners said it had partnered with Kelce and two other executives to invest in the amusement-park chain for a combined stake of around 9%.
Jana said it plans to reach out to Six Flags' board and management "regarding opportunities to enhance shareholder value and improve the guest experience."
"I am a lifelong Six Flags fan and grew up going to these parks with my family and friends," Kelce said in a statement. "The chance to help make Six Flags special for the next generation is one I couldn't pass up."
The two other executives are Glenn Murphy, a former chief executive of Gap Inc. (GAP) and the founder of "consumer-focused" investment firm FIS Holdings, and Dave Habiger, chair of Reddit Inc.'s (RDDT) board of directors.
Scott Ostfeld, managing partner at Jana, disclosed the investment at the 13D Monitor Active-Passive Investor Summit, according to the announcement.
In August, denim maker and retailer American Eagle (AEO) announced a limited-edition collaboration with Tru Kolors, a sportswear line created by Kelce. Shares of American Eagle rallied on the news.
Shares of Six Flags are down 46.8% so far this year, as inflation and harsh weather have hindered consumer spending at its amusement parks.
-Bill Peters
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10-21-25 1629ET
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