Cedar Fair (NYSE:FUN) Sees Unusually-High Trading Volume

Shares of Cedar Fair, L.P. (NYSE:FUN) saw strong trading volume on Wednesday . 212,679 shares changed 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.

Analyst Ratings Changes

A number of brokerages recently commented on FUN. Mizuho dropped their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. B. Riley raised their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. StockNews.com began coverage on shares of Cedar Fair in a report on Monday. They set a “buy” rating on the stock. Finally, Truist Financial lifted their price target on shares of Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $51.10.

Cedar Fair Trading Up 3.0 %

The firm’s 50-day moving average price is $43.28 and its 200 day moving average price is $41.41. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 20.74 and a beta of 1.45.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The company had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. As a group, equities research analysts anticipate that Cedar Fair, L.P. will post 3.47 earnings per share for the current fiscal year.

Cedar Fair Announces Dividend

The firm also recently announced a Variable dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 28th will be issued a dividend of $1.53 per share. The ex-dividend date of this dividend is Friday, June 28th. Cedar Fair’s payout ratio is 49.38%.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of Cedar Fair in the 1st quarter valued at $332,000. Aurora Investment Counsel boosted its stake in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after acquiring an additional 253 shares in the last quarter. Cetera Advisors LLC boosted its stake in Cedar Fair by 10.9% during the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after acquiring an additional 675 shares in the last quarter. HAP Trading LLC bought a new position in Cedar Fair during the first quarter worth $1,329,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Cedar Fair by 121.9% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after acquiring an additional 13,332 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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.