Cedar Fair, L.P. (FUN) Sees Large Volume Increase
Cedar Fair, L.P. (NYSE:FUN) saw an uptick in trading volume on Friday . 315,188 shares traded hands during mid-day trading, an increase of 67% from the previous session’s volume of 188,396 shares.The stock last traded at $59.78 and had previously closed at $59.61.
Several brokerages recently issued reports on FUN. Macquarie upgraded shares of Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $65.00 in a research report on Friday, July 8th. Zacks Investment Research upgraded shares of Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. FBR & Co reiterated a “buy” rating and issued a $68.00 target price (up from $60.00) on shares of Cedar Fair, L.P. in a research report on Friday, July 15th. Janney Montgomery Scott reiterated a “buy” rating and issued a $69.00 target price on shares of Cedar Fair, L.P. in a research report on Wednesday, July 6th. Finally, Stephens began coverage on shares of Cedar Fair, L.P. in a research report on Tuesday, April 19th. They issued an “equal weight” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.29.
The firm has a market capitalization of $3.34 billion and a price-to-earnings ratio of 22.86. The firm has a 50 day moving average of $59.86 and a 200-day moving average of $58.04.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by $0.04. The business had revenue of $388 million for the quarter, compared to the consensus estimate of $390.43 million. During the same period in the previous year, the company earned $1.02 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Cedar Fair, L.P. will post $3.65 EPS for the current fiscal year.
In other Cedar Fair, L.P. news, Director Thomas Klein bought 3,000 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was acquired at an average price of $58.65 per share, with a total value of $175,950.00. Following the completion of the acquisition, the director now directly owns 17,073 shares of the company’s stock, valued at $1,001,331.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Craig J. Freeman sold 1,794 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $60.03, for a total transaction of $107,693.82. Following the sale, the vice president now directly owns 36,921 shares of the company’s stock, valued at approximately $2,216,367.63. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Cedar Fair, L.P. stock. Trust & Fiduciary Management Services Inc. raised its position in Cedar Fair, L.P. (NYSE:FUN) by 53.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,677 shares of the company’s stock after buying an additional 27,269 shares during the period. Cedar Fair, L.P. makes up about 3.5% of Trust & Fiduciary Management Services Inc.’s portfolio, making the stock its 14th largest position. Trust & Fiduciary Management Services Inc. owned approximately 0.14% of Cedar Fair, L.P. worth $4,393,000 at the end of the most recent reporting period.
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
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