Cedar Fair, L.P. (FUN) Position Boosted by HL Financial Services LLC
HL Financial Services LLC increased its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,387 shares of the company’s stock after buying an additional 671 shares during the period. HL Financial Services LLC’s holdings in Cedar Fair, L.P. were worth $1,182,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in FUN. Advisory Services Network LLC acquired a new position in shares of Cedar Fair, L.P. during the first quarter worth about $102,000. Dubuque Bank & Trust Co. acquired a new position in shares of Cedar Fair, L.P. during the first quarter worth about $188,000. Anchor Capital Advisors LLC acquired a new position in shares of Cedar Fair, L.P. during the first quarter worth about $203,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Cedar Fair, L.P. by 15.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,061 shares of the company’s stock worth $208,000 after buying an additional 400 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in shares of Cedar Fair, L.P. by 0.7% in the second quarter. Capital Advisors Ltd. LLC now owns 3,084 shares of the company’s stock worth $222,000 after buying an additional 21 shares during the period. Institutional investors own 51.77% of the company’s stock.
Cedar Fair, L.P. (NYSE:FUN) opened at 64.25 on Friday. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 26.95 and a beta of 0.50. The stock’s 50 day moving average is $69.33 and its 200-day moving average is $68.62.
Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by $0.20. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The firm had revenue of $392.80 million during the quarter, compared to the consensus estimate of $405.78 million. During the same quarter last year, the firm posted $1.03 earnings per share. Cedar Fair, L.P.’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Cedar Fair, L.P. will post $3.00 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be issued a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.32%. Cedar Fair, L.P.’s dividend payout ratio (DPR) is 144.30%.
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A number of equities analysts have recently issued reports on FUN shares. Stifel Nicolaus started coverage on shares of Cedar Fair, L.P. in a research report on Thursday, April 20th. They set a “buy” rating and a $78.00 target price on the stock. Zacks Investment Research lowered shares of Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Cedar Fair, L.P. from a “buy” rating to a “conviction-buy” rating and set a $81.00 target price on the stock in a research report on Monday, June 19th. Finally, BidaskClub lowered shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.75.
In related news, CEO Matthew A. Ouimet sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $71.20, for a total transaction of $854,400.00. Following the completion of the transaction, the chief executive officer now directly owns 207,299 shares in the company, valued at approximately $14,759,688.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew A. Ouimet sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $70.15, for a total value of $1,052,250.00. Following the transaction, the chief executive officer now owns 220,499 shares of the company’s stock, valued at $15,468,004.85. The disclosure for this sale can be found here. Insiders sold a total of 36,100 shares of company stock valued at $2,533,549 over the last quarter. Company insiders own 2.00% of the company’s stock.
About Cedar Fair, L.P.
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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