Private Advisor Group LLC Raises Position in Cedar Fair, L.P. (NYSE:FUN)

Private Advisor Group LLC boosted its stake in Cedar Fair, L.P. (NYSE:FUN) by 31.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,167 shares of the company’s stock after buying an additional 5,993 shares during the period. Private Advisor Group LLC’s holdings in Cedar Fair were worth $1,600,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in FUN. Janus Henderson Group PLC acquired a new position in Cedar Fair in the 2nd quarter valued at about $145,981,000. FMR LLC grew its stake in Cedar Fair by 42.9% in the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after buying an additional 1,220,099 shares during the last quarter. Northwestern Mutual Investment Management Company LLC acquired a new position in Cedar Fair in the 2nd quarter valued at about $31,274,000. ING Groep NV grew its stake in Cedar Fair by 163.3% in the 3rd quarter. ING Groep NV now owns 283,956 shares of the company’s stock valued at $18,207,000 after buying an additional 176,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Cedar Fair by 12.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock valued at $35,065,000 after buying an additional 52,085 shares during the last quarter. Institutional investors and hedge funds own 49.90% of the company’s stock.

A number of research analysts have issued reports on the stock. B. Riley restated a “buy” rating on shares of Cedar Fair in a research report on Friday, November 3rd. FBR & Co restated a “buy” rating on shares of Cedar Fair in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Stifel Nicolaus restated a “buy” rating and set a $74.00 target price (down previously from $75.00) on shares of Cedar Fair in a research report on Thursday, September 7th. Finally, Goldman Sachs Group lowered shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.38.

Shares of Cedar Fair, L.P. (NYSE:FUN) traded down $0.43 during trading on Friday, hitting $64.99. 104,860 shares of the stock were exchanged, compared to its average volume of 95,933. Cedar Fair, L.P. has a 12 month low of $59.66 and a 12 month high of $72.56. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18. The company has a market cap of $3,679.09, a P/E ratio of 24.52, a PEG ratio of 3.63 and a beta of 0.52.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share 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 firm had revenue of $652.69 million for the quarter, compared to the consensus estimate of $652.98 million. During the same period last year, the company posted $3.10 EPS. The business’s revenue was up .4% on a year-over-year basis. equities analysts predict that Cedar Fair, L.P. will post 3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, December 4th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend was Friday, December 1st. This is an increase from Cedar Fair’s previous quarterly dividend of $0.86. Cedar Fair’s dividend payout ratio is 134.34%.

In other news, CEO Matthew A. Ouimet sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $67.91, for a total transaction of $407,460.00. Following the completion of the sale, the chief executive officer now owns 215,353 shares of the company’s stock, valued at approximately $14,624,622.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 4,000 shares of the company’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. Corporate 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.

Institutional Ownership by Quarter for Cedar Fair (NYSE:FUN)

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