Aureus Asset Management LLC increased its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,369 shares of the company’s stock after purchasing an additional 14,123 shares during the period. Cedar Fair makes up approximately 2.4% of Aureus Asset Management LLC’s portfolio, making the stock its 15th largest position. Aureus Asset Management LLC owned about 0.42% of Cedar Fair worth $15,092,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ffcm LLC acquired a new position in Cedar Fair during the third quarter worth about $109,000. Solaris Asset Management LLC grew its position in Cedar Fair by 8.4% during the second quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock worth $111,000 after buying an additional 120 shares during the period. Advisory Services Network LLC grew its position in Cedar Fair by 10.7% during the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after buying an additional 160 shares during the period. Captrust Financial Advisors acquired a new position in Cedar Fair during the second quarter worth about $123,000. Finally, The Manufacturers Life Insurance Company grew its position in Cedar Fair by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after buying an additional 108 shares during the period. 49.91% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $64.90, for a total transaction of $129,800.00. Following the sale, the chief executive officer now owns 193,199 shares in the company, valued at $12,538,615.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew A. Ouimet sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.40, for a total transaction of $265,600.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
FUN has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Cedar Fair from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Goldman Sachs Group lowered shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target on the stock. in a research report on Wednesday, October 4th. FBR & Co reiterated a “buy” rating on shares of Cedar Fair in a research report on Thursday, September 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target (down from $75.00) on shares of Cedar Fair in a research report on Thursday, September 7th. Finally, BidaskClub upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $74.38.
Cedar Fair, L.P. (FUN) traded up $0.62 during mid-day trading on Tuesday, hitting $66.90. 200,500 shares of the stock traded hands, compared to its average volume of 130,648. The firm has a market capitalization of $3,760.00, a price-to-earnings ratio of 22.47, a PEG ratio of 3.68 and a beta of 0.52. Cedar Fair, L.P. has a twelve month low of $59.66 and a twelve month high of $72.56. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 22.05.
Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.18). The business had revenue of $652.69 million during the quarter, compared to analyst estimates of $652.98 million. Cedar Fair had a net margin of 11.75% and a return on equity of 2,430.22%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.10 earnings per share. sell-side analysts expect that Cedar Fair, L.P. will post 3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, December 1st. This represents a $3.56 dividend on an annualized basis and a yield of 5.32%. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.86. Cedar Fair’s dividend payout ratio (DPR) is 133.83%.
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Cedar Fair Profile
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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