IFP Advisors Inc Has $518,000 Stake in Cedar Fair, L.P. (FUN)
IFP Advisors Inc boosted its position in Cedar Fair, L.P. (NYSE:FUN) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 7,189 shares of the company’s stock after buying an additional 1 shares during the period. IFP Advisors Inc’s holdings in Cedar Fair, L.P. were worth $518,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in shares of Cedar Fair, L.P. by 17.2% in the fourth quarter. Guggenheim Capital LLC now owns 10,978 shares of the company’s stock worth $705,000 after buying an additional 1,610 shares during the period. Creative Planning boosted its stake in shares of Cedar Fair, L.P. by 1.4% in the first quarter. Creative Planning now owns 15,001 shares of the company’s stock worth $1,017,000 after buying an additional 209 shares during the period. Palisade Capital Management LLC NJ boosted its stake in shares of Cedar Fair, L.P. by 75.2% in the first quarter. Palisade Capital Management LLC NJ now owns 52,480 shares of the company’s stock worth $3,559,000 after buying an additional 22,530 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Cedar Fair, L.P. during the first quarter worth about $1,468,000. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Cedar Fair, L.P. during the first quarter worth about $188,000. 51.77% of the stock is owned by hedge funds and other institutional investors.
Cedar Fair, L.P. (NYSE:FUN) opened at 64.38 on Friday. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56. The company’s 50 day moving average is $69.15 and its 200-day moving average is $68.62. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 27.01 and a beta of 0.50.
Cedar Fair, L.P. (NYSE:FUN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by $0.20. The firm had revenue of $392.80 million for the quarter, compared to analyst estimates of $405.78 million. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. On average, analysts expect that Cedar Fair, L.P. will post $3.00 earnings per share for the current fiscal 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 given a dividend of $0.855 per share. The ex-dividend date is Friday, September 1st. This represents a $3.42 annualized dividend and a dividend yield of 5.31%. Cedar Fair, L.P.’s payout ratio is 144.30%.
A number of analysts have recently issued reports on FUN shares. Stifel Nicolaus started coverage on shares of Cedar Fair, L.P. in a research note on Thursday, April 20th. They issued a “buy” rating and a $78.00 price objective for the company. Zacks Investment Research cut shares of Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Goldman Sachs Group, Inc. (The) raised shares of Cedar Fair, L.P. from a “buy” rating to a “conviction-buy” rating and set a $81.00 price objective for the company in a research note 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 investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Cedar Fair, L.P. has an average rating of “Hold” and an average target price of $74.75.
In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Klein bought 7,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average cost of $66.13 per share, for a total transaction of $462,910.00. Following the transaction, the director now directly owns 24,960 shares of the company’s stock, valued at $1,650,604.80. The disclosure for this purchase can be found here. In the last three months, insiders have sold 36,100 shares of company stock worth $2,533,549. Corporate 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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