ValuEngine upgraded shares of Cedar Fair (NYSE:FUN) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other equities analysts have also commented on the company. Stifel Nicolaus lifted their price objective on Cedar Fair from $62.00 to $64.00 and gave the stock a buy rating in a research note on Thursday, September 6th. B. Riley dropped their price objective 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. KeyCorp dropped their price objective on Cedar Fair from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Thursday, August 2nd. Wedbush set a $58.00 price objective on Cedar Fair and gave the stock a buy rating in a research note on Thursday, August 2nd. Finally, Macquarie lowered Cedar Fair from an outperform rating to a neutral rating in a research note on Friday, July 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $65.00.
NYSE FUN traded up $0.25 during trading on Friday, hitting $54.65. 127,211 shares of the company traded hands, compared to its average volume of 174,205. Cedar Fair has a 12 month low of $50.10 and a 12 month 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 firm has a market cap of $2.94 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 3.88 and a beta of 0.34.
The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, September 5th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This is an increase from Cedar Fair’s previous quarterly dividend of $0.75. This represents a $3.56 dividend on an annualized basis and a yield of 6.51%. Cedar Fair’s dividend payout ratio (DPR) is 87.90%.
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 shares were acquired at an average cost of $51.17 per share, with a total value of $511,700.00. Following the completion of the transaction, the director now directly owns 36,012 shares in the company, valued at $1,842,734.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in FUN. Wells Fargo & Company MN grew its position in Cedar Fair by 2.5% during the first quarter. Wells Fargo & Company MN now owns 198,437 shares of the company’s stock worth $12,676,000 after buying an additional 4,907 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cedar Fair by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 196,623 shares of the company’s stock valued at $12,560,000 after purchasing an additional 5,660 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cedar Fair by 24.1% during the first quarter. PNC Financial Services Group Inc. now owns 19,909 shares of the company’s stock valued at $1,273,000 after purchasing an additional 3,861 shares in the last quarter. Sei Investments Co. boosted its holdings in Cedar Fair by 16.4% during the first quarter. Sei Investments Co. now owns 20,118 shares of the company’s stock valued at $1,285,000 after purchasing an additional 2,834 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Cedar Fair during the first quarter valued at approximately $205,000. 51.34% of the stock is currently owned by institutional investors and hedge funds.
Cedar Fair Company 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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