Private Advisor Group LLC decreased its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,197 shares of the company’s stock after selling 1,671 shares during the quarter. Private Advisor Group LLC owned 0.08% of Cedar Fair worth $2,108,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of FUN. HighTower Advisors LLC bought a new position in Cedar Fair during the second quarter valued at approximately $331,000. GAM Holding AG bought a new position in Cedar Fair during the second quarter valued at approximately $417,000. Sargent Investment Group LLC lifted its position in Cedar Fair by 12.2% during the second quarter. Sargent Investment Group LLC now owns 8,275 shares of the company’s stock valued at $395,000 after purchasing an additional 900 shares during the period. Atria Investments LLC bought a new position in Cedar Fair during the second quarter valued at approximately $471,000. Finally, Bank of Montreal Can lifted its position in Cedar Fair by 9.1% during the second quarter. Bank of Montreal Can now owns 537,200 shares of the company’s stock valued at $25,620,000 after purchasing an additional 44,600 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.
Cedar Fair stock traded up $0.54 during midday trading on Friday, reaching $55.08. 122,433 shares of the company traded hands, compared to its average volume of 295,980. The company has a debt-to-equity ratio of 51.13, a current ratio of 1.39 and a quick ratio of 1.26. Cedar Fair, L.P. has a 12 month low of $45.58 and a 12 month high of $57.98. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.35 and a beta of 0.50. The business has a 50 day moving average of $53.98 and a two-hundred day moving average of $52.25.
Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.25. Cedar Fair had a net margin of 12.03% and a negative return on equity of 939.99%. The business had revenue of $436.19 million for the quarter, compared to the consensus estimate of $410.86 million. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that Cedar Fair, L.P. will post 3.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th were given a $0.925 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.70 annualized dividend and a yield of 6.72%. Cedar Fair’s payout ratio is presently 122.52%.
A number of research analysts recently weighed in on the stock. SunTrust Banks upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Thursday, August 22nd. KeyCorp lowered their price objective on shares of Cedar Fair from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. TheStreet upgraded shares of Cedar Fair from a “c” rating to a “b-” rating in a research report on Thursday, August 29th. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Tuesday, September 10th. Finally, Wedbush set a $60.00 price objective on shares of Cedar Fair and gave the company a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $62.80.
About Cedar Fair
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.
Recommended Story: Limitations of analyzing profit margin
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.