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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Six Flags has not publicly responded to the Wall Street Journal’s report.<\/p>\n
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.<\/p>\n
Soon after, Richard Haddrill replaced Marilyn Spiegel as board chair.<\/p>\n
Six Flags owns dozens of amusement parks in the U.S., including Dorney Park and Wildwater Kingdom in South Whitehall Township, Lehigh County.<\/p>\n
Last month, Six Flags said it would relocate its\u00a0corporate headquarters from North Carolina to Texas in early 2027.<\/p>\n
Shares of Six Flags were trading at $11.25 early Tuesday afternoon. That gives the company a market capitalization of $1.18 billion.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"CHARLOTTE, N.C.- Shares of Six Flags (NYSE: FUN) have sunk to their lowest point in years amid reports…\n","protected":false},"author":2,"featured_media":296303,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[119,121,120,122515,122514,156,122517,4849,122516,8788,664,80625,8787,3529],"class_list":["post-296302","post","type-post","status-publish","format-standard","has-post-thumbnail","category-allentown","tag-allentown","tag-allentown-headlines","tag-allentown-news","tag-barry-rosenstein","tag-jana-partners","tag-lehigh-university","tag-marilyn-spiegel","tag-national-football-league","tag-richard-haddrill","tag-six-flags","tag-south-whitehall-township","tag-the-wall-street-journal","tag-travis-kelce","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/296302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=296302"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/296302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/296303"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=296302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=296302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=296302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}