Six Flags Entertainment Corporation (FUN)

In October 2025, Six Flags' stock surged after an activist investor group, including Jana Partners and Travis Kelce, acquired a 9% stake, intending to advocate for strategic changes. On August 6, 2025, Six Flags announced a net loss of $100 million and a 9% attendance decline in Q2 2025, attributed to unfavorable weather. President and CEO Richard A. Zimmerman will step down by the end of 2025. Despite Q2 challenges, Six Flags reported strong attendance growth and season pass sales through Labor Day weekend, leading to reaffirmed full-year 2025 Adjusted EBITDA guidance. The stock price decreased by 36.48% over the past year.

Demand for Six Flags' products and services is heavily influenced by weather and holiday periods. The summer months are a peak season for attendance, as are the Halloween and winter holiday seasons. The company promotes seasonal events like Fright Fest and Holiday in the Park to capitalize on these periods. Attendance can be significantly impacted by unfavorable weather conditions. The company's operating days are concentrated during warmer months, typically from late May through early September for water parks.

Six Flags Entertainment Corporation is a North American regional amusement park operator involved in operating amusement parks, water parks, and resort properties. The company offers recreational facilities and entertainment options, including thrill rides, water attractions, themed areas, concerts, shows, restaurants, game venues, and merchandise outlets. Six Flags leverages intellectual properties like Looney Tunes and DC Comics to enhance its attractions. The company was formed on July 1, 2024, following a merger between Cedar Fair and the former Six Flags company, and is headquartered in Charlotte, North Carolina, with significant administrative and financial operations in Sandusky, Ohio.

Six Flags Entertainment Corp. operates 42 properties across North America, including amusement parks, water parks, and resorts. These properties are located throughout the United States, Mexico, and Canada. In the United States, Six Flags has a presence in major regions including California, Georgia, Illinois, Maryland, Massachusetts, Missouri, New Jersey, New York, Oklahoma, and Texas. The company also operates parks like La Ronde in Montreal, Quebec, Canada, and Six Flags México and Hurricane Harbor Oaxtepec in Mexico.

Six Flags' brand reputation has faced challenges due to its "premiumization strategy" introduced in 2021, which alienated its traditional customer base, leading to a decline in overall attendance. Former CEO Selim Bassoul's comments exacerbated negative sentiment and damaged the brand's image. The recent involvement of an activist investor group aims to improve marketing and the customer experience. The company has also faced scrutiny for cost-cutting measures.

Six Flags Entertainment Corporation is a publicly traded company with a diverse shareholder base, predominantly held by institutional investors. Major institutional owners include BlackRock, Inc., The Vanguard Group, Inc., Darlington Partners Capital Management LP, Sachem Head Capital Management LP, H Partners Management, Llc, State Street Corp, Norges Bank, Legal & General Group Plc, and Credential Securities Inc. Q4 Funding LP is a significant individual shareholder, owning 3.34% of the company. The activist investor group, including Jana Partners and Travis Kelce, recently acquired an approximate 9% economic stake in Six Flags.