7,745 Shares in Cedar Fair, L.P. (NYSE:FUN) Acquired by Saxon Interests Inc.

Saxon Interests Inc. purchased a new stake in Cedar Fair, L.P. (NYSE:FUN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,745 shares of the company’s stock, valued at approximately $308,000.

Several other large investors have also recently modified their holdings of FUN. Money Concepts Capital Corp bought a new stake in shares of Cedar Fair in the fourth quarter worth $26,000. Tower Research Capital LLC TRC grew its position in shares of Cedar Fair by 355.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after buying an additional 636 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new stake in shares of Cedar Fair in the first quarter valued at about $41,000. Ancora Advisors LLC raised its position in shares of Cedar Fair by 34.6% during the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after acquiring an additional 550 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Cedar Fair by 44.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after acquiring an additional 852 shares during the period. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Price Performance

Shares of FUN stock traded up $0.43 on Thursday, reaching $41.90. 159,580 shares of the company were exchanged, compared to its average volume of 224,487. The company has a 50-day moving average of $41.25 and a 200-day moving average of $39.16. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 17.10 and a beta of 1.41. Cedar Fair, L.P. has a one year low of $34.04 and a one year high of $45.93.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. As a group, sell-side analysts predict that Cedar Fair, L.P. will post 3.28 EPS for the current year.

Cedar Fair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Cedar Fair in a research report on Thursday. They set a “buy” rating for the company. B. Riley reiterated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Morgan Stanley boosted their target price on shares of Cedar Fair from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, December 14th. KeyCorp increased their price target on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Mizuho initiated coverage on Cedar Fair in a research report on Tuesday. They issued a “buy” rating and a $56.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $50.30.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.