Janus Henderson Group PLC trimmed its stake in Cedar Fair, L.P. (NYSE:FUN) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,008,472 shares of the company’s stock after selling 108,941 shares during the quarter. Janus Henderson Group PLC owned 7.07% of Cedar Fair worth $222,230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FUN. Boenning & Scattergood Inc. raised its position in shares of Cedar Fair by 2.2% in the 4th quarter. Boenning & Scattergood Inc. now owns 9,163 shares of the company’s stock worth $508,000 after purchasing an additional 196 shares during the last quarter. First Hawaiian Bank raised its position in shares of Cedar Fair by 28.7% in the 4th quarter. First Hawaiian Bank now owns 9,344 shares of the company’s stock worth $518,000 after purchasing an additional 2,085 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Cedar Fair by 66.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,789 shares of the company’s stock worth $1,042,000 after purchasing an additional 7,473 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Cedar Fair in the 4th quarter worth about $97,000. Finally, JS Capital Management LLC bought a new stake in Cedar Fair in the 3rd quarter worth about $393,000. 50.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on FUN shares. TheStreet cut shares of Cedar Fair from a “b-” rating to a “c” rating in a research note on Wednesday, February 19th. Zacks Investment Research downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Friday, February 21st. B. Riley reduced their price target on shares of Cedar Fair from $44.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday. Finally, ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $55.00.
Shares of FUN opened at $26.13 on Thursday. The company has a debt-to-equity ratio of 50.48, a current ratio of 0.91 and a quick ratio of 0.81. Cedar Fair, L.P. has a one year low of $13.00 and a one year high of $64.86. The firm has a market capitalization of $1.24 billion, a P/E ratio of 8.68, a PEG ratio of 0.97 and a beta of 0.70. The business has a fifty day moving average of $40.19 and a 200 day moving average of $51.97.
Cedar Fair (NYSE:FUN) last posted its earnings results on Wednesday, February 19th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The firm had revenue of $257.25 million during the quarter, compared to the consensus estimate of $267.47 million. Cedar Fair had a net margin of 11.69% and a negative return on equity of 395.23%. Analysts expect that Cedar Fair, L.P. will post 3.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, March 4th were given a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a dividend yield of 14.31%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cedar Fair’s payout ratio is currently 121.43%.
In other Cedar Fair news, COO Tim Fisher purchased 3,660 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $27.33 per share, for a total transaction of $100,027.80. Following the purchase, the chief operating officer now directly owns 24,153 shares of the company’s stock, valued at approximately $660,101.49. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlos Ruisanchez purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the purchase, the director now directly owns 6,308 shares in the company, valued at $282,661.48. The disclosure for this purchase can be found here. Insiders have bought a total of 28,130 shares of company stock valued at $1,008,559 in the last ninety days. Insiders own 2.20% of the company’s stock.
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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