Six Flags nominates four new board members

CHARLOTTE, N.C. - Six Flags Entertainment Corporation (NYSE: FUN), the leading amusement park operator in North America, with a market capitalization of $3.62 billion, announced today its intention to nominate Sandy Cochran, Michael Colglazier, Felipe Dutra, and Steven Hoffman for election to its Board of Directors during the upcoming 2025 Annual Meeting of Stockholders. If elected, these individuals will serve as Class I Directors until 2028. The company’s stock has experienced a challenging year, down nearly 22% year-to-date, though InvestingPro data suggests net income growth is expected this year.

The company is set to maintain a 12-member board, including 10 independent directors, following the voluntary resignation of current directors Esi Eggleston Bracey, Michelle McKinney Frymire, D. Scott Olivet, and Enrique Ramirez Mena. Executive Chairman Selim Bassoul expressed gratitude for their contributions during the pivotal post-merger phase. With the stock trading near its 52-week low of $35.93, InvestingPro analysis reveals additional insights about the company’s valuation and prospects, available in their comprehensive Pro Research Report.

The nomination process involved a comprehensive review by the Six Flags Board and a search conducted with Spencer Stuart, a nationally recognized executive search firm. Shareholder Dendur Capital LP recommended Dutra and Hoffman as part of their collaborative engagement with the company.

Bassoul is optimistic about the nominees’ potential to build on the company’s momentum and advance its strategic objectives. Malcolm Levine, Managing Partner and Chief Investment Officer of Dendur, echoed this sentiment, highlighting the nominees’ capabilities to drive profitable growth and enhance shareholder value.

The nominees bring diverse expertise to the table. Sandy Cochran has held leadership roles at Cracker Barrel Old Country Store, Inc. and Books-A-Million, Inc. Michael Colglazier currently leads Virgin Galactic Holdings, Inc. and has a history with the Walt Disney Company. Felipe Dutra, with experience as CFO and CTO of Anheuser-Busch InBev, now chairs Waldencast PLC. Steven Hoffman, founder of Python Global Ventures, previously worked with Highline Capital Management LLC.

Six Flags operates 27 amusement parks, 15 water parks, and nine resort properties, offering entertainment experiences based on popular intellectual properties. The company generated revenue of $2.71 billion in the last twelve months, with analyst price targets ranging from $45 to $64 per share. InvestingPro subscribers can access detailed financial health scores, valuation metrics, and expert analysis through the platform’s comprehensive Pro Research Reports, which cover over 1,400 US stocks including Six Flags.

This announcement is based on a press release statement and does not include any speculative or promotional content. The company’s forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ from expectations. More information on these statements and risks can be found in Six Flags’ filings with the U.S. Securities and Exchange Commission.

In other recent news, Six Flags Entertainment reported fourth-quarter earnings with revenue reaching $687 million and an adjusted EBITDA of $209 million. These figures slightly missed Guggenheim’s expectations of $712 million in revenue and $213 million in EBITDA. Despite this, Guggenheim maintained a Buy rating on the stock, albeit with a lowered price target of $50. Oppenheimer also reiterated its Outperform rating with a $60 price target, highlighting a 1% year-over-year revenue growth and significant expansion in EBITDA margins. The firm noted that Six Flags’ 2025 guidance projects revenue growth between 2% and 6%, aligning with consensus estimates.

Stifel showed confidence in Six Flags by raising its price target to $64 and maintaining a Buy rating, citing the company’s strategic initiatives post-merger with Cedar Fair. Stifel acknowledged challenges like higher capital expenditure requirements but emphasized the management’s ability to manage expectations effectively. Additionally, Six Flags announced its 2025 Annual Meeting for June 25, the first since its name change from CopperSteel HoldCo, Inc. These developments reflect the company’s efforts to focus on growth and strategic initiatives amid recent market conditions.

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