Cedar Fair, L.P. (NYSE:FUN - Get Free Report) saw strong trading volume on Wednesday . 212,679 shares traded hands during mid-day trading, a decline of 4% from the previous session's volume of 222,242 shares.The stock last traded at $50.17 and had previously closed at $49.25.
Analysts Set New Price Targets
A number of analysts recently weighed in on the company. Truist Financial lifted their price target on Cedar Fair from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, May 10th. Mizuho decreased their price target on Cedar Fair from $56.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, May 15th. StockNews.com initiated coverage on Cedar Fair in a research report on Monday. They set a "buy" rating on the stock. Finally, B. Riley boosted their target price on Cedar Fair from $52.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, June 12th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $51.10.
Check Out Our Latest Stock Report on FUN
Cedar Fair Stock Up 3.4 %
The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 20.95 and a beta of 1.45. The stock has a fifty day moving average price of $43.52 and a two-hundred day moving average price of $41.48.
Cedar Fair (NYSE:FUN - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. The business had revenue of $101.62 million for the quarter, compared to analysts' expectations of $91.97 million. As a group, research analysts forecast that Cedar Fair, L.P. will post 3.47 earnings per share for the current fiscal year.
Cedar Fair Dividend Announcement
The firm also recently announced a Variable dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 28th will be given a dividend of $1.53 per share. The ex-dividend date is Friday, June 28th. Cedar Fair's dividend payout ratio (DPR) is presently 49.38%.
Hedge Funds Weigh In On Cedar Fair
Several large investors have recently added to or reduced their stakes in FUN. UBS Group AG grew its stake in shares of Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company's stock valued at $121,274,000 after buying an additional 2,310,565 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company's stock valued at $124,718,000 after buying an additional 1,130,439 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Cedar Fair in the third quarter valued at about $25,215,000. Goldman Sachs Group Inc. grew its stake in shares of Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company's stock valued at $159,553,000 after buying an additional 539,352 shares in the last quarter. Finally, Impala Asset Management LLC grew its stake in shares of Cedar Fair by 21.9% in the third quarter. Impala Asset Management LLC now owns 379,040 shares of the company's stock valued at $14,024,000 after buying an additional 68,150 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
About Cedar Fair
(Get Free Report)
Cedar Fair, L.P. owns and operates amusem*nt and water parks, as well as complementary resort facilities. Its amusem*nt 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.
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