Lineweaver Wealth Advisors LLC purchased a new stake in shares of Cedar Fair, L.P. (NYSE:FUN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,874 shares of the company’s stock, valued at approximately $270,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Boenning & Scattergood Inc. boosted its position in Cedar Fair by 2.2% during the fourth quarter. Boenning & Scattergood Inc. now owns 9,163 shares of the company’s stock valued at $508,000 after acquiring an additional 196 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in Cedar Fair by 2.2% during the third quarter. Pin Oak Investment Advisors Inc. now owns 10,050 shares of the company’s stock valued at $587,000 after acquiring an additional 220 shares during the last quarter. Massey Quick Simon & CO. LLC boosted its position in Cedar Fair by 2,873.3% during the third quarter. Massey Quick Simon & CO. LLC now owns 446 shares of the company’s stock valued at $26,000 after acquiring an additional 431 shares during the last quarter. Parallax Volatility Advisers L.P. bought a new stake in Cedar Fair during the second quarter valued at $25,000. Finally, Sheaff Brock Investment Advisors LLC boosted its position in Cedar Fair by 10.6% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 5,616 shares of the company’s stock valued at $328,000 after acquiring an additional 536 shares during the last quarter. 51.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of FUN stock traded down $1.34 on Thursday, reaching $54.78. 177,605 shares of the company were exchanged, compared to its average volume of 258,394. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.21 and a beta of 0.48. The company has a 50-day moving average of $55.26 and a 200-day moving average of $54.46. The company has a debt-to-equity ratio of 50.48, a current ratio of 1.17 and a quick ratio of 1.05. Cedar Fair, L.P. has a one year low of $45.58 and a one year high of $64.86.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Wednesday, December 4th were issued a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.93. Cedar Fair’s dividend payout ratio is currently 123.84%.
FUN has been the topic of a number of research analyst reports. ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. B. Riley cut shares of Cedar Fair from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $60.00 to $57.00 in a research report on Monday, December 2nd. Finally, Zacks Investment Research cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One equities research analyst has 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 currently has an average rating of “Hold” and an average price target of $62.00.
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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