Atlantic Trust LLC decreased its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 49.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,320 shares of the company’s stock after selling 10,102 shares during the quarter. Atlantic Trust LLC’s holdings in Cedar Fair were worth $650,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. bought a new position in Cedar Fair during the 2nd quarter worth $472,000. Barnett & Company Inc. raised its position in Cedar Fair by 28.2% during the 2nd quarter. Barnett & Company Inc. now owns 54,876 shares of the company’s stock worth $3,458,000 after purchasing an additional 12,077 shares during the last quarter. Janus Henderson Group PLC raised its position in Cedar Fair by 8.3% during the 2nd quarter. Janus Henderson Group PLC now owns 2,257,464 shares of the company’s stock worth $142,243,000 after purchasing an additional 173,139 shares during the last quarter. Advisors Capital Management LLC raised its position in Cedar Fair by 30.9% during the 2nd quarter. Advisors Capital Management LLC now owns 60,099 shares of the company’s stock worth $3,787,000 after purchasing an additional 14,194 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Cedar Fair during the 1st quarter worth $278,000. 51.36% of the stock is currently owned by institutional investors.
In other news, Director Thomas Klein bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average cost of $51.17 per share, with a total value of $511,700.00. Following the transaction, the director now directly owns 36,012 shares of the company’s stock, valued at approximately $1,842,734.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.
Several brokerages recently issued reports on FUN. ValuEngine raised Cedar Fair from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Wedbush set a $58.00 target price on Cedar Fair and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus raised their target price on Cedar Fair from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. B. Riley lowered their price objective on Cedar Fair from $79.00 to $70.00 and set a “$59.25” rating for the company in a research report on Thursday, July 19th. Finally, KeyCorp lowered their price objective on Cedar Fair from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $66.67.
FUN stock opened at $53.57 on Tuesday. Cedar Fair, L.P. has a 1-year low of $50.10 and a 1-year high of $70.82. The company has a debt-to-equity ratio of -24.04, a current ratio of 0.65 and a quick ratio of 0.52. The stock has a market capitalization of $3.07 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 3.79 and a beta of 0.35.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.58). Cedar Fair had a return on equity of 2,149.78% and a net margin of 14.04%. The business had revenue of $380.32 million during the quarter, compared to the consensus estimate of $387.60 million. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. analysts expect that Cedar Fair, L.P. will post 2.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Wednesday, September 5th were given a $0.89 dividend. The ex-dividend date was Tuesday, September 4th. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.75. This represents a $3.56 annualized dividend and a dividend yield of 6.65%. Cedar Fair’s dividend payout ratio (DPR) is 87.90%.
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.
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