Epoch Investment Partners Inc. raised its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 434,662 shares of the company’s stock after purchasing an additional 10,996 shares during the quarter. Epoch Investment Partners Inc. owned 0.77% of Cedar Fair worth $27,870,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC grew its position in shares of Cedar Fair by 42.9% in the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock worth $292,829,000 after acquiring an additional 1,220,099 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Cedar Fair in the 2nd quarter worth approximately $145,981,000. Royal Bank of Canada lifted its holdings in shares of Cedar Fair by 3.5% in the 2nd quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock worth $72,427,000 after purchasing an additional 34,144 shares during the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in shares of Cedar Fair in the 2nd quarter worth approximately $31,274,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 12.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock worth $35,065,000 after purchasing an additional 52,085 shares during the last quarter. Hedge funds and other institutional investors own 49.91% of the company’s stock.
Shares of Cedar Fair, L.P. (FUN) traded up $0.22 during trading on Wednesday, reaching $67.12. The company’s stock had a trading volume of 109,500 shares, compared to its average volume of 130,558. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 22.05. The company has a market cap of $3,762.32, a P/E ratio of 22.68, a P/E/G ratio of 3.71 and a beta of 0.52. Cedar Fair, L.P. has a 52-week low of $59.66 and a 52-week high of $72.56.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Friday, December 1st. This is an increase from Cedar Fair’s previous quarterly dividend of $0.86. Cedar Fair’s payout ratio is currently 134.34%.
FUN has been the topic of several recent research reports. KeyCorp reissued a “buy” rating and issued a $74.00 price target on shares of Cedar Fair in a report on Tuesday, October 24th. Zacks Investment Research raised Cedar Fair from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Goldman Sachs Group downgraded Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a research note on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price (down previously from $75.00) on shares of Cedar Fair in a research note on Thursday, September 7th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair in a research note on Thursday, September 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.38.
In related news, CEO Matthew A. Ouimet sold 2,000 shares of Cedar Fair stock in a transaction on Friday, September 15th. The stock was sold at an average price of $64.90, for a total value of $129,800.00. Following the transaction, the chief executive officer now directly owns 193,199 shares in the company, valued at approximately $12,538,615.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 4,000 shares of Cedar Fair stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $66.40, for a total value of $265,600.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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Cedar Fair 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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