Cedar Fair, L.P. (NYSE:FUN – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $59.00.
Several research analysts recently issued reports on FUN shares. Truist Financial cut their target price on shares of Cedar Fair from $67.00 to $58.00 in a research report on Thursday, August 4th. Stifel Nicolaus cut their target price on shares of Cedar Fair from $72.00 to $58.00 in a research report on Thursday, July 7th. KeyCorp set a $55.00 target price on shares of Cedar Fair in a research report on Tuesday, July 19th. Credit Suisse Group cut their target price on shares of Cedar Fair from $89.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Finally, B. Riley cut their target price on shares of Cedar Fair from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st.
Cedar Fair Stock Performance
Cedar Fair stock opened at $42.47 on Thursday. The stock has a market cap of $2.42 billion, a P/E ratio of 29.29 and a beta of 1.67. Cedar Fair has a fifty-two week low of $37.78 and a fifty-two week high of $62.56. The firm’s fifty day moving average price is $42.55 and its 200-day moving average price is $46.97.
Cedar Fair Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 2.83%. Cedar Fair’s payout ratio is 82.76%.
Institutional Trading of Cedar Fair
A number of institutional investors have recently modified their holdings of FUN. HighTower Advisors LLC boosted its holdings in shares of Cedar Fair by 5.8% during the fourth quarter. HighTower Advisors LLC now owns 10,108 shares of the company’s stock worth $505,000 after purchasing an additional 551 shares during the period. Invesco Ltd. boosted its holdings in shares of Cedar Fair by 25.1% during the fourth quarter. Invesco Ltd. now owns 562,711 shares of the company’s stock worth $28,170,000 after purchasing an additional 113,035 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Cedar Fair during the fourth quarter worth about $4,620,000. Clearline Capital LP purchased a new stake in shares of Cedar Fair during the fourth quarter worth about $225,000. Finally, Akaris Global Partners LP boosted its holdings in shares of Cedar Fair by 4.4% during the fourth quarter. Akaris Global Partners LP now owns 216,037 shares of the company’s stock worth $10,815,000 after purchasing an additional 9,168 shares during the period. 67.79% of the stock is currently owned by hedge funds and other institutional investors.
About Cedar Fair
Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California’s Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cedar Fair, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cedar Fair wasn’t on the list.
While Cedar Fair currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
