Wells Fargo & Company MN lessened its position in Cedar Fair, L.P. (NYSE:FUN) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,907 shares of the company’s stock after selling 3,292 shares during the quarter. Wells Fargo & Company MN owned about 0.33% of Cedar Fair worth $12,049,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its holdings in 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 during the period. Janus Henderson Group PLC bought a new position in Cedar Fair in the 2nd quarter worth $145,981,000. Royal Bank of Canada raised its holdings in 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 acquiring an additional 34,144 shares during the period. Northwestern Mutual Investment Management Company LLC bought a new position in shares of Cedar Fair during the 2nd quarter worth about $31,274,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cedar Fair 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 purchasing an additional 52,085 shares during the period. Hedge funds and other institutional investors own 49.90% of the company’s stock.
Several research firms have recently issued reports on FUN. KeyCorp restated an “overweight” rating and set a $74.00 price objective on shares of Cedar Fair in a report on Wednesday, August 30th. B. Riley restated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. FBR & Co restated a “buy” rating on shares of Cedar Fair in a report on Thursday, September 7th. Finally, Goldman Sachs Group downgraded shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective on the stock. in a report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $74.38.
Shares of Cedar Fair, L.P. (NYSE:FUN) opened at $66.64 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05. Cedar Fair, L.P. has a 12-month low of $59.66 and a 12-month high of $72.56. The firm has a market cap of $3,720.00, a PE ratio of 25.05, a PEG ratio of 3.73 and a beta of 0.52.
Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.18). Cedar Fair had a net margin of 11.75% and a return on equity of 2,430.22%. The business had revenue of $652.69 million for the quarter, compared to analyst estimates of $652.98 million. During the same quarter last year, the firm posted $3.10 earnings per share. Cedar Fair’s revenue was up .4% on a year-over-year basis. analysts anticipate that Cedar Fair, L.P. will post 3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, December 4th were given a dividend of $0.89 per share. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Friday, December 1st. Cedar Fair’s payout ratio is 133.83%.
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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