Waratah Capital Advisors Ltd. grew its position in shares of Cedar Fair, L.P. (NYSE:FUN – Get Rating) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,742,945 shares of the company’s stock after buying an additional 64,116 shares during the quarter. Cedar Fair makes up about 1.3% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 4th largest holding. Waratah Capital Advisors Ltd.’s holdings in Cedar Fair were worth $95,513,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Truist Financial Corp raised its stake in shares of Cedar Fair by 9.6% in the 1st quarter. Truist Financial Corp now owns 4,653 shares of the company’s stock valued at $255,000 after acquiring an additional 409 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Cedar Fair by 1.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 26,541 shares of the company’s stock valued at $1,329,000 after acquiring an additional 497 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Cedar Fair by 5.8% in the 4th quarter. HighTower Advisors LLC now owns 10,108 shares of the company’s stock valued at $505,000 after acquiring an additional 551 shares in the last quarter. Tyler Stone Wealth Management bought a new position in shares of Cedar Fair in the 4th quarter valued at approximately $33,000. Finally, Valley National Advisers Inc. bought a new position in shares of Cedar Fair in the 1st quarter valued at approximately $42,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.
Cedar Fair Price Performance
Shares of FUN traded up $1.27 on Friday, reaching $42.27. 908,177 shares of the stock traded hands, compared to its average volume of 457,240. The stock’s 50-day moving average price is $43.20 and its 200-day moving average price is $49.68. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 29.15 and a beta of 1.70. Cedar Fair, L.P. has a 12 month low of $37.78 and a 12 month high of $62.56.
Cedar Fair Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, August 30th.
Analyst Ratings Changes
Several research analysts have commented on FUN shares. Stifel Nicolaus dropped their price target on Cedar Fair from $72.00 to $58.00 in a research report on Thursday, July 7th. KeyCorp set a $55.00 price target on Cedar Fair in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price target on Cedar Fair from $75.00 to $63.00 in a research report on Thursday. Credit Suisse Group dropped their price target on Cedar Fair from $89.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Citigroup dropped their price target on Cedar Fair from $67.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and a consensus target price of $58.88.
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.
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