Wedbush Securities Inc. trimmed its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,821 shares of the company’s stock after selling 1,575 shares during the quarter. Wedbush Securities Inc.’s holdings in Cedar Fair, L.P. were worth $694,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in shares of Cedar Fair, L.P. by 42.9% during the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock worth $292,829,000 after buying an additional 1,220,099 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Cedar Fair, L.P. during the 2nd quarter worth approximately $145,981,000. Royal Bank of Canada raised its stake in shares of Cedar Fair, L.P. by 3.5% during the 2nd quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock worth $72,427,000 after buying an additional 34,144 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new position in shares of Cedar Fair, L.P. during the 2nd quarter worth approximately $31,274,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cedar Fair, L.P. by 12.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock worth $35,065,000 after buying an additional 52,085 shares during the period. 51.48% of the stock is owned by institutional investors and hedge funds.
Cedar Fair, L.P. (FUN) opened at $65.93 on Friday. Cedar Fair, L.P. has a 52 week low of $58.05 and a 52 week high of $72.56. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of -27.50. The company has a market capitalization of $3,707.77, a price-to-earnings ratio of 22.35, a P/E/G ratio of 3.86 and a beta of 0.51.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). Cedar Fair, L.P. had a net margin of 11.75% and a negative return on equity of 1,055.06%. The firm had revenue of $652.69 million during the quarter, compared to analyst estimates of $652.98 million. During the same period in the prior year, the company posted $3.10 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. equities analysts predict that Cedar Fair, L.P. will post 2.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be paid a $0.89 dividend. This is an increase from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a yield of 5.40%. The ex-dividend date is Friday, December 1st. Cedar Fair, L.P.’s dividend payout ratio is currently 129.06%.
FUN has been the subject of several research analyst reports. Zacks Investment Research raised Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, July 12th. KeyCorp reaffirmed a “buy” rating and set a $74.00 target price on shares of Cedar Fair, L.P. in a research note on Tuesday, October 24th. Goldman Sachs Group, Inc. (The) downgraded Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a research note on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price (down from $75.00) on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.38.
In other news, Director Thomas Klein acquired 7,000 shares of Cedar Fair, L.P. stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $66.13 per share, with a total value of $462,910.00. Following the purchase, the director now owns 24,960 shares in the company, valued at $1,650,604.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew A. Ouimet sold 2,000 shares of the stock in a transaction 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 directly 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 corporate insiders.
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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.
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