Cedar Fair, L.P. (NYSE:FUN) Director Thomas Klein acquired 20,000 shares of Cedar Fair stock in a transaction dated Monday, November 5th. The stock was purchased at an average price of $50.98 per share, with a total value of $1,019,600.00. Following the completion of the purchase, the director now directly owns 56,012 shares of the company’s stock, valued at approximately $2,855,491.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
FUN traded up $0.56 during trading on Tuesday, hitting $51.05. The company’s stock had a trading volume of 200 shares, compared to its average volume of 231,736. Cedar Fair, L.P. has a twelve month low of $47.90 and a twelve month high of $70.82. The company has a debt-to-equity ratio of 18.09, a quick ratio of 0.94 and a current ratio of 1.07. The firm has a market cap of $2.92 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 3.15 and a beta of 0.31.
Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.21 by $0.55. The firm had revenue of $663.70 million during the quarter, compared to the consensus estimate of $659.45 million. Cedar Fair had a return on equity of 1,656.35% and a net margin of 15.58%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.38 earnings per share. Research analysts predict that Cedar Fair, L.P. will post 2.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.925 per share. This is an increase from Cedar Fair’s previous quarterly dividend of $0.89. The ex-dividend date is Monday, December 3rd. This represents a $3.70 annualized dividend and a dividend yield of 7.25%. Cedar Fair’s payout ratio is currently 87.90%.
FUN has been the subject of a number of analyst reports. ValuEngine upgraded shares of Cedar Fair from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research lowered Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Stifel Nicolaus boosted their price target on Cedar Fair from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Goldman Sachs Group lowered Cedar Fair from a “buy” rating to a “neutral” rating in a research note on Thursday, July 12th. Finally, B. Riley dropped their price target on Cedar Fair from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Cedar Fair presently has a consensus rating of “Hold” and an average price target of $65.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cannell Peter B & Co. Inc. increased its holdings in shares of Cedar Fair by 14.3% during the third quarter. Cannell Peter B & Co. Inc. now owns 23,575 shares of the company’s stock valued at $1,228,000 after acquiring an additional 2,950 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Cedar Fair by 161.0% during the third quarter. Brookstone Capital Management now owns 9,347 shares of the company’s stock valued at $487,000 after acquiring an additional 5,766 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Cedar Fair during the third quarter valued at approximately $250,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Cedar Fair by 100.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,443 shares of the company’s stock valued at $1,221,000 after acquiring an additional 11,773 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Cedar Fair by 11.6% during the third quarter. Wells Fargo & Company MN now owns 197,820 shares of the company’s stock valued at $10,302,000 after acquiring an additional 20,563 shares in the last quarter. Hedge funds and other institutional investors own 51.37% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.dispatchtribunal.com/2018/11/06/thomas-klein-purchases-20000-shares-of-cedar-fair-l-p-fun-stock.html.
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.
Featured Article: What is a put option?
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.