According to Sina Finance, activist hedge fund Jana Partners is urging theme park operator Six Flags Entertainment to explore a sale. Sources said Jana Partners sent a letter to the company's board on Tuesday, asking it to immediately hire an investment bank to review strategic alternatives after disappointing second-quarter results.

Six Flags reported last month that its net loss widened to $202.6 million from $99.6 million a year earlier. As of Tuesday, the company had a market value of about $1.2 billion, and its shares had fallen about 42% over the past year.

Six Flags has been pursuing a business turnaround amid declining attendance. It has sold seven non-core parks to EPR Properties and will close another park in Maryland after the 2025 operating season ends.