Csenge Advisory Group Acquires New Stake in Cedar Fair, L.P. (FUN)

Csenge Advisory Group acquired a new stake in shares of Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,626 shares of the company’s stock, valued at approximately $1,130,000.

A number of other hedge funds have also recently bought and sold shares of FUN. Janus Henderson Group PLC purchased a new stake in Cedar Fair, L.P. during the second quarter valued at about $145,981,000. FMR LLC lifted its stake in Cedar Fair, L.P. by 42.9% during the second quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after buying an additional 1,220,099 shares in the last quarter. Northwestern Mutual Investment Management Company LLC purchased a new stake in Cedar Fair, L.P. during the second quarter valued at about $31,274,000. Goldman Sachs Group Inc. lifted its stake in Cedar Fair, L.P. by 12.0% during the second quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock valued at $35,065,000 after buying an additional 52,085 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cedar Fair, L.P. by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 111,370 shares of the company’s stock valued at $8,030,000 after buying an additional 41,034 shares in the last quarter. 51.48% of the stock is owned by institutional investors.

In related news, CEO Matthew A. Ouimet sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $66.80, for a total value of $200,400.00. Following the completion of the transaction, the chief executive officer now directly owns 195,199 shares in the company, valued at approximately $13,039,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the transaction, the chief executive officer now owns 193,199 shares of the company’s stock, valued at $12,538,615.10. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Cedar Fair, L.P. (NYSE:FUN) last posted its earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). Cedar Fair, L.P. had a negative return on equity of 1,055.06% and a net margin of 11.75%. The company had revenue of $652.69 million for the quarter, compared to analyst estimates of $652.98 million. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Cedar Fair, L.P.’s quarterly revenue was up .4% compared to the same quarter last year.

A number of research firms have commented on FUN. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective (down from $75.00) on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 6th. KeyCorp reaffirmed a “buy” rating and set a $74.00 price objective on shares of Cedar Fair, L.P. in a research note on Tuesday, October 24th. FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.38.

WARNING: “Csenge Advisory Group Acquires New Stake in Cedar Fair, L.P. (FUN)” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.com-unik.info/2017/11/03/csenge-advisory-group-acquires-new-stake-in-cedar-fair-l-p-fun.html.

Cedar Fair, L.P. 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.

Want to see what other hedge funds are holding FUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cedar Fair, L.P. (NYSE:FUN).

Institutional Ownership by Quarter for Cedar Fair, L.P. (NYSE:FUN)

What are top analysts saying about Cedar Fair L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cedar Fair L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit