AP
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A group that includes activist investor Jana Partners and NFL participant Travis Kelce says it has amassed one of many largest possession stakes in Six Flags Entertainment and intends to press the corporate’s management on methods to enhance the struggling amusement park operator’s enterprise.
Jana stated Tuesday that the investor group now owns an financial curiosity of roughly 9% in Six Flags. The group plans to “engage” with Six Flags’ administration and board of administrators to focus on methods to improve shareholder worth and enhance guests’ expertise.
Shares within the Charlotte, North Carolina-based Six Flags surged 17.7% on the information. The shares added one other 5.1% acquire in after-hours buying and selling. Even with Tuesday’s rally, the corporate’s shares are down about 47% to date this yr.
Six Flags reported a lack of $319.4 million for the primary half of the yr. The firm stated attendance fell 9% within the three months ended June 29, due partly to dangerous climate and a “challenged consumer” in a lot of the markets it operates in.
The investor group additionally includes client government Glenn Murphy and expertise government Dave Habiger.
Kelce, tight finish for the Kansas City Chiefs, stated in a statement that he grew up going to Six Flags amusement parks.
“The chance to help make Six Flags special for the next generation is one I couldn’t pass up,” he stated.