Travis Kelce teams up with hedge fund that’s – Business News
Activist investor Jana Partners has teamed up with soccer star Travis Kelce to push Six Flags Entertainment to improve its advertising and buyer experiences, the investor mentioned, after disclosing a 9% stake within the company.
Jana Partners’ Scott Ostfeld introduced the place on the 13D Monitor Active Passive-Investment Summit in New York on Tuesday, saying he has partnered with Kelce and two business industry executives to strain the company to improve its efficiency.
Shares of Six Flags shot up 17% on Tuesday after Ostfeld spoke to $25.63. The stock is down 58% because it accomplished a merger with fellow theme park operator Cedar Fair in July 2024.
Travis Kelce is partnering with Jana Partners and different buyers to push for chnages at Six Flags. The group owns a 9% stake. David Smith/CSM/Shutterstock
The stock has a market capitalization of roughly $2.6 billion, and has struggled this yr as wet climate at first of the summer season stored guests away from its parks.
Kelce, a star tight finish for the NFL’s Kansas City Chiefs, is a widespread podcast host who not too long ago turned engaged to singer Taylor Swift. He has described himself as a theme park “superfan” and has typically visited the company’s parks.
Jana is becoming a member of a subject of activists approaching Six Flags with concepts on how to improve the share price.
On Friday, the company mentioned it added an govt from activist hedge fund Sachem Head Capital Management to its board.
Shares of Six Flags shot up 17% on Tuesday. The stock is down 58% because it accomplished a merger with fellow theme park operator Cedar Fair in July 2024. Getty Images
Consumer govt Glenn Murphy and technology govt Dave Habiger are additionally working with Jana and will, alongside with Kelce, function potential board nominees.
