HG Vora Dumps All Six Flags Shares Worth $49.4 Million

Core Viewpoint - HG Vora Capital Management has completely liquidated its stake in Six Flags Entertainment, selling 2,175,000 shares valued at approximately $49.42 million, indicating a lack of confidence in the company's future performance [2][5]. Company Overview - Six Flags Entertainment operates amusement and water parks across North America, with a diversified presence in 17 states, Canada, and Mexico, leveraging well-known intellectual properties to attract visitors [4][7]. - The company employs around 5,000 people and is headquartered in Charlotte, North Carolina [7]. Financial Performance - As of February 17, 2026, Six Flags' stock price was $15.55, with a market capitalization of $1.58 billion and a trailing twelve months (TTM) revenue of $3.10 billion. However, the company reported a net income loss of $1.60 billion for the same period, which included a $1.5 billion non-cash impairment charge [3][5]. - Six Flags' stock has decreased by 60% over the past year, reflecting significant challenges faced by the company [5]. Investment Insights - HG Vora had previously increased its holdings in Six Flags, but the decision to divest indicates a strategic shift in response to the company's ongoing struggles and poor stock performance [5][8]. - CEO John Reilly acknowledged the company's underperformance in 2025 but expressed optimism about future improvements through investments in park infrastructure, new attractions, and enhanced services [6][8].