Six Flags stock soars 17% after Travis Kelce joins activist campaign with hedge fund Jana Partners

Six Flags Entertainment (FUN) stock rose as much as 20% on Tuesday after news that NFL star Travis Kelce had joined Jana Partners’ activist investor campaign pushing for change at the parks operator.

Kelce, a tight end for the Kansas City Chiefs, along with New York City-based hedge fund Jana Partners and a group of other investors, built a 9% stake in Six Flags, according to a press release from Jana Partners. The stake is worth roughly $200 million, according to the Wall Street Journal.

“I am a lifelong Six Flags fan and grew up going to these parks with my family and friends,” Kelce said. “The chance to help make Six Flags special for the next generation is one I couldn’t pass up.”

Six Flags stock closed Tuesday’s trading session up 17.97% to settle at $25.68.

Six Flags’ stock has faltered throughout the year, down more than 45% in 2025.

Weather patterns unfavorable for a theme park outing, new-ride delays, and a growing contingent of competitors in the park space have all weighed on the stock price, according to the Wall Street Journal.

At Six Flags, Jana plans to “engage with the Company’s Board of Directors and management regarding opportunities to enhance shareholder value and improve the guest experience,” the investment firm said in its press release announcing the stake.

This is not the first time Jana Partners has pursued a campaign at Six Flags. The hedge fund built an 11% stake in 2006.

This is also not the first time Jana Partners has worked with a celebrity as a co-investor.

The hedge fund teamed up with celebrities, including baseball player CC Sabathia and basketball player Dwyane Wade, on a 2022 campaign at pet food company Freshpet.

Kelce, already a household name among football fans, has seen his celebrity status elevated over the past year as a result of his relationship with his fiancée, pop megastar Taylor Swift.

Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com.

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