Amundi Pioneer Asset Management Inc. cut its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 0.8% in the 1st quarter, Holdings Channel reports. The fund owned 680,964 shares of the company’s stock after selling 5,217 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Cedar Fair were worth $35,832,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Investment Advisory Services LLC boosted its stake in Cedar Fair by 66.7% in the 1st quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Synovus Financial Corp purchased a new stake in Cedar Fair during the 1st quarter valued at $32,000. Trustcore Financial Services LLC purchased a new stake in Cedar Fair during the 1st quarter valued at $34,000. Horan Capital Advisors LLC. purchased a new stake in Cedar Fair during the 1st quarter valued at $37,000. Finally, PRW Wealth Management LLC purchased a new stake in Cedar Fair during the 4th quarter valued at $34,000. 51.67% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on FUN. ValuEngine lowered Cedar Fair from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research upgraded Cedar Fair from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. B. Riley reduced their target price on Cedar Fair from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. TheStreet lowered Cedar Fair from a “b-” rating to a “c” rating in a research note on Monday, March 18th. Finally, Macquarie upgraded Cedar Fair from a “neutral” rating to an “outperform” rating in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $60.83.
FUN stock opened at $48.57 on Wednesday. The company has a debt-to-equity ratio of 51.13, a quick ratio of 0.49 and a current ratio of 0.63. Cedar Fair, L.P. has a twelve month low of $45.73 and a twelve month high of $67.35. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.13 and a beta of 0.59.
Cedar Fair (NYSE:FUN) last released its earnings results on Wednesday, May 8th. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. The business had revenue of $67.00 million for the quarter, compared to analyst estimates of $55.14 million. Cedar Fair had a negative return on equity of 1,151.68% and a net margin of 9.29%. The business’s revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.49) earnings per share. Sell-side analysts predict that Cedar Fair, L.P. will post 3.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.925 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $3.70 annualized dividend and a dividend yield of 7.62%. Cedar Fair’s dividend payout ratio is currently 122.52%.
WARNING: This story was originally posted by Macon Daily and is the property of of Macon Daily. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://macondaily.com/2019/06/12/amundi-pioneer-asset-management-inc-has-35-83-million-holdings-in-cedar-fair-l-p-nysefun.html.
Cedar Fair Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
Featured Article: What is a Real Estate Investment Trust (REIT)?
Want to see what other hedge funds are holding FUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cedar Fair, L.P. (NYSE:FUN).
Receive News & Ratings for Cedar Fair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair and related companies with MarketBeat.com's FREE daily email newsletter.