Aveo Capital Partners LLC raised its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,040 shares of the company’s stock after buying an additional 275 shares during the period. Aveo Capital Partners LLC’s holdings in Cedar Fair, L.P. were worth $291,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. FMR LLC boosted its stake in Cedar Fair, L.P. by 57.0% in the first quarter. FMR LLC now owns 2,841,330 shares of the company’s stock worth $192,671,000 after buying an additional 1,031,160 shares during the period. OppenheimerFunds Inc. boosted its stake in Cedar Fair, L.P. by 8.5% in the first quarter. OppenheimerFunds Inc. now owns 2,140,592 shares of the company’s stock worth $145,153,000 after buying an additional 166,891 shares during the period. Global X Management Co. LLC purchased a new stake in Cedar Fair, L.P. during the first quarter worth approximately $7,727,000. ING Groep NV boosted its stake in Cedar Fair, L.P. by 93.3% in the first quarter. ING Groep NV now owns 142,537 shares of the company’s stock worth $9,665,000 after buying an additional 68,800 shares during the period. Finally, River Road Asset Management LLC boosted its stake in Cedar Fair, L.P. by 8.3% in the first quarter. River Road Asset Management LLC now owns 602,213 shares of the company’s stock worth $40,836,000 after buying an additional 45,983 shares during the period. Institutional investors own 51.20% of the company’s stock.
Shares of Cedar Fair, L.P. (FUN) traded up 0.08% during trading on Friday, reaching $66.40. The company had a trading volume of 83,153 shares. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 27.85 and a beta of 0.50. The stock has a 50 day moving average of $68.51 and a 200 day moving average of $68.72. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by $0.20. The business had revenue of $392.80 million for the quarter, compared to analyst estimates of $405.78 million. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. Cedar Fair, L.P.’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Equities research analysts forecast that Cedar Fair, L.P. will post $3.00 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th will be paid a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 annualized dividend and a dividend yield of 5.15%. Cedar Fair, L.P.’s payout ratio is currently 144.30%.
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A number of research firms have recently commented on FUN. BidaskClub upgraded Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research cut Cedar Fair, L.P. from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $81.00 target price on shares of Cedar Fair, L.P. in a research report on Tuesday, July 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $78.00 target price on shares of Cedar Fair, L.P. in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Cedar Fair, L.P. presently has a consensus rating of “Buy” and a consensus target price of $74.75.
In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $71.20, for a total value of $854,400.00. Following the sale, the chief executive officer now owns 207,299 shares in the company, valued at $14,759,688.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Ouimet sold 9,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $68.89, for a total transaction of $626,899.00. Following the completion of the sale, the chief executive officer now owns 200,799 shares in the company, valued at approximately $13,833,043.11. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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