Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research report released on Monday. The firm issued a buy rating on the stock.

Other research analysts also recently issued reports about the company. B. Riley boosted their price objective on Cedar Fair from $52.00 to $59.00 and gave the company a buy rating in a research note on Wednesday, June 12th. Truist Financial upped their price target on Cedar Fair from $45.00 to $50.00 and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Mizuho dropped their price target on Cedar Fair from $56.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $51.10.

Cedar Fair Trading Up 5.3 %

Shares of NYSE:FUN opened at $53.68 on Monday. The stock has a 50 day moving average of $43.82 and a 200 day moving average of $41.56. The company has a market cap of $2.75 billion, a PE ratio of 22.09 and a beta of 1.45. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $56.00.

Cedar Fair (NYSE:FUN) last announced 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 the consensus estimate of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. Equities research analysts predict that Cedar Fair will post 3.47 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

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

Institutional Trading of Cedar Fair

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

About Cedar Fair

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.