American Century Companies Inc. lowered its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,776 shares of the company’s stock after selling 4,603 shares during the quarter. American Century Companies Inc. owned approximately 0.17% of Cedar Fair worth $6,141,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Solaris Asset Management LLC lifted its stake in Cedar Fair by 8.4% in the second quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock valued at $111,000 after buying an additional 120 shares in the last quarter. Advisory Services Network LLC boosted 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 purchasing an additional 160 shares during the period. Captrust Financial Advisors bought a new position in Cedar Fair during the second quarter worth $123,000. The Manufacturers Life Insurance Company boosted 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 purchasing an additional 108 shares during the period. Finally, Peddock Capital Advisors LLC bought a new position in Cedar Fair during the second quarter worth $144,000. Hedge funds and other institutional investors own 49.91% of the company’s stock.
A number of equities analysts have commented on the stock. KeyCorp reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Cedar Fair in a research report on Wednesday, August 30th. BidaskClub raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. B. Riley reissued a “buy” rating on shares of Cedar Fair in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, FBR & Co reissued a “buy” rating on shares of Cedar Fair in a research note on Thursday, September 7th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.38.
Shares of Cedar Fair, L.P. (FUN) traded down $0.13 on Thursday, hitting $67.12. The stock had a trading volume of 63,417 shares, compared to its average volume of 129,910. The company has a market cap of $3,774.69, a P/E ratio of 22.75, a PEG ratio of 3.72 and a beta of 0.52. Cedar Fair, L.P. has a 12-month low of $59.66 and a 12-month high of $72.56. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.18). Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The company had revenue of $652.69 million during the quarter, compared to analysts’ expectations of $652.98 million. During the same period last year, the firm earned $3.10 earnings per share. Cedar Fair’s revenue for the quarter was up .4% on a year-over-year basis. equities research analysts expect that Cedar Fair, L.P. will post 3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, December 1st. This is a boost from Cedar Fair’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 5.30%. Cedar Fair’s payout ratio is 134.34%.
In other news, CEO Matthew A. Ouimet sold 2,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the transaction, the chief executive officer now directly owns 193,199 shares of the company’s stock, valued at $12,538,615.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew A. Ouimet sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.40, for a total value of $265,600.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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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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