Six Flags Stock Jumps. Travis Kelce Joins Investor Group to Take 9% Stake.

Travis Kelce of pro football fame has joined an investor group with a 9% stake in Six Flags. (Jamie Squire/Getty Images)

Key Points

• Travis Kelce and an investment group acquired a 9% stake in Six Flags, leading to an 18% stock jump.
• The investment group, including activist fund Jana Partners, plans to engage Six Flags’ board to enhance shareholder value.
• Six Flags’ stock has declined approximately 47% this year, marking its worst performance since 1987.

Pro football player (and Taylor Swift fiancé) Travis Kelce has joined with an investing group to take a 9% stake in the amusement park operator Six Flags .

Shares of Six Flags jumped nearly 18% on the news during the regular session and continued to rise 4.5% in after-hours trading.

It’s been a roller-coaster ride for investors in the past year. Shares are down about 47% so far this year, on track for their worst year since 1987, according to Dow Jones Market Data. The stock is down 65% from its all-time closing high of $72.29 on May 1, 2017.

Kelce, a Super Bowl winner for the Kansas City Chiefs, is in the group with activist fund Jana Partners and investors Glenn Murphy, a former Gap CEO, and Dave Habiger, a former J.D. Power CEO.

Jana said it would engage with Six Flags’ board and management “regarding opportunities to enhance shareholder value and improve the guest experience.” The investment was disclosed by Jana managing partner Scott Ostfeld during the 13D Monitor Active-Passive Investor Summit.

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

Write to Liz Moyer at liz.moyer@barrons.com