Cedar Fair, L.P. (FUN) Stock Price Down 1.1%
Cedar Fair, L.P. (NYSE:FUN)’s share price dropped 1.1% during trading on Monday . The company traded as low as $58.91 and last traded at $59.00, with a volume of 69,561 shares traded. The stock had previously closed at $59.63.
FUN has been the subject of a number of research analyst reports. Zacks Investment Research cut Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Janney Montgomery Scott reiterated a “buy” rating and set a $69.00 price target on shares of Cedar Fair, L.P. in a report on Monday, May 23rd. Stephens initiated coverage on Cedar Fair, L.P. in a report on Tuesday, April 19th. They set an “equal weight” rating for the company. FBR & Co lifted their price target on Cedar Fair, L.P. to $68.00 and gave the stock an “outperform” rating in a report on Monday, July 18th. Finally, Macquarie upgraded Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $65.00 in a report on Friday, July 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cedar Fair, L.P. currently has an average rating of “Buy” and an average target price of $65.29.
The firm has a market capitalization of $3.30 billion and a P/E ratio of 22.57. The firm’s 50 day moving average price is $59.88 and its 200-day moving average price is $58.17.
Cedar Fair, L.P. (NYSE:FUN) last posted its earnings results 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. During the same quarter in the previous year, the company earned $1.02 EPS. The company had revenue of $388 million for the quarter, compared to the consensus estimate of $390.43 million. Cedar Fair, L.P.’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Cedar Fair, L.P. will post $3.65 EPS for the current year.
In related news, VP Craig J. Freeman sold 1,794 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $60.03, for a total value of $107,693.82. Following the sale, the vice president now owns 36,921 shares in the company, valued at approximately $2,216,367.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Klein bought 3,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was acquired at an average price of $58.65 per share, for a total transaction of $175,950.00. Following the acquisition, the director now directly owns 17,073 shares in the company, valued at $1,001,331.45. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake 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 filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 3.5% of Trust & Fiduciary Management Services Inc.’s investment portfolio, making the stock its 14th largest position. Trust & Fiduciary Management Services Inc. owned about 0.14% of Cedar Fair, L.P. worth $4,393,000 at the end of the most recent quarter.
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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