Six Flags Entertainment (FUN) Skyrockets on Investor Activism

We recently published 10 Stocks Leaving Wall Street in the Dust. Six Flags Entertainment Corp. (NYSE:FUN) is one of the best performers on Tuesday.

Six Flags surged by 17.73 percent on Tuesday to close at $25.63 apiece as investor sentiment was fueled by the acquisition of a significant stake by activist investor, Jana Partners, in partnership with Taylor Swift’s fiancé, Travis Kelce, and two other executives.

In a statement on Tuesday, Jana Partners said it struck a deal with Kelce, consumer executive Glenn Murphy, and technology executive Dave Habiger to acquire a 9-percent stake in Six Flags Entertainment Corp. (NYSE:FUN).

According to Jana, the acquisition was aimed at engaging with the firm’s Board of Directors on opportunities to enhance shareholder value.

For his part, Kelce said that he is a Six Flags fan and grew up going to its parks with family and friends.

“The chance to help make Six Flags special for the next generation is one I couldn’t pass up,” he said.

In other news, Six Flags Entertainment Corp. (NYSE:FUN) recently welcomed Jonathan Brudnick to the Board of Directors.

Effective on October 17, Brudnick will serve as a Class III Director for the term ending in 2027 and as a member of the Board’s Nominating and Corporate Governance Committee.

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Disclosure: None. This article is originally published at Insider Monkey.