CHARLOTTE, N.C.- Shares of Six Flags (NYSE: FUN) have sunk to their lowest point in years amid reports the amusement park giant is being pushed to sell.
According to the Wall Street Journal, the activist hedge fund Jana Partners has called on the company’s board of directors to hire an investment bank and explore a sale.
Jana is unhappy with Six Flags’ most recent earnings report, the Journal said, in which the company said its net loss grew to more than $202 million.
Last year, Jana Partners purchased a 9% stake in Six Flags. The head of Jana, Barry Rosenstein, is a Lehigh University graduate. The group also includes NFL player Travis Kelce.
Six Flags has not publicly responded to the Wall Street Journal’s report.
This marks the second time in recent months the company has been reported to be under pressure to explore a sale; Reuters reported a similar development in March, and also said the company was advised to appoint a new head of its board of directors.
Soon after, Richard Haddrill replaced Marilyn Spiegel as board chair.
Six Flags owns dozens of amusement parks in the U.S., including Dorney Park and Wildwater Kingdom in South Whitehall Township, Lehigh County.
Last month, Six Flags said it would relocate its corporate headquarters from North Carolina to Texas in early 2027.
Shares of Six Flags were trading at $11.25 early Tuesday afternoon. That gives the company a market capitalization of $1.18 billion.