Ardent Leisure on downhill ride: JP Morgan

The Dreamworks theme park operator has fallen after a downgrade from investment bank JP Morgan, citing short-term concerns.

Ardent Leisure Group (AAD) slid after JP Morgan downgraded its recommendation on the theme park and leisure facilities operator to "neutral" from "overweight" because of its strong share price rally and expectation it will lag the market next month.

The stock fell 4.23% to $1.75 at 1425 AEST in response, extending Wednesday's 1.1% slide after it closed the day before at its highest point in over three years at $1.85.

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