Cambridge Investment Research Advisors Inc. Sells 1,230 Shares of Cedar Fair, L.P. (NYSE:FUN)

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Cedar Fair, L.P. (NYSE:FUN – Get Rating) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,001 shares of the company’s stock after selling 1,230 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cedar Fair were worth $579,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. bought a new stake in Cedar Fair during the 1st quarter valued at approximately $41,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Cedar Fair in the 4th quarter worth approximately $33,000. Castleview Partners LLC bought a new stake in shares of Cedar Fair in the 4th quarter worth approximately $67,000. Fifth Third Bancorp lifted its position in shares of Cedar Fair by 35.9% in the 4th quarter. Fifth Third Bancorp now owns 1,894 shares of the company’s stock worth $78,000 after acquiring an additional 500 shares during the period. Finally, Ancora Advisors LLC lifted its position in shares of Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after acquiring an additional 550 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FUN shares. Deutsche Bank Aktiengesellschaft raised their price objective on Cedar Fair from $54.00 to $61.00 in a research report on Friday, February 17th. Stifel Nicolaus raised their price objective on Cedar Fair from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. StockNews.com assumed coverage on Cedar Fair in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Credit Suisse Group raised their target price on Cedar Fair from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Finally, Truist Financial cut their target price on Cedar Fair from $54.00 to $50.00 in a research report on Friday, May 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cedar Fair has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Cedar Fair Price Performance

FUN stock opened at $45.00 on Thursday. The business has a fifty day moving average price of $43.39 and a 200 day moving average price of $42.66. Cedar Fair, L.P. has a fifty-two week low of $37.58 and a fifty-two week high of $49.40. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.20 and a beta of 1.45.

Cedar Fair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. Cedar Fair’s dividend payout ratio is 27.21%.

Cedar Fair Profile

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Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.