UBS Group AG lifted its holdings in shares of Cedar Fair, L.P. (NYSE:FUN – Free Report) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 962,821 shares of the company’s stock after purchasing an additional 124,276 shares during the quarter. UBS Group AG owned 1.88% of Cedar Fair worth $43,991,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Money Concepts Capital Corp acquired a new stake in Cedar Fair in the 4th quarter valued at approximately $26,000. Lakewood Asset Management LLC acquired a new stake in Cedar Fair in the 4th quarter valued at approximately $28,000. Tower Research Capital LLC TRC raised its position in Cedar Fair by 355.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after buying an additional 636 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new stake in Cedar Fair in the 1st quarter valued at approximately $41,000. Finally, Ancora Advisors LLC raised its position in Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 61.81% of the company’s stock.
Wall Street Analyst Weigh In
FUN has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $58.00 target price on shares of Cedar Fair in a research report on Friday, July 21st. StockNews.com started coverage on Cedar Fair in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on Cedar Fair from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 31st. Macquarie decreased their price target on Cedar Fair from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, August 21st. Finally, Citigroup downgraded Cedar Fair from a “buy” rating to a “neutral” rating and decreased their price target for the company from $50.00 to $41.00 in a research note on Friday, July 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cedar Fair currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.91.
Cedar Fair Trading Down 0.5 %
Shares of NYSE FUN opened at $39.87 on Thursday. Cedar Fair, L.P. has a 12 month low of $35.55 and a 12 month high of $47.95. The stock has a 50 day moving average of $39.02 and a 200-day moving average of $42.05. The company has a market capitalization of $2.04 billion, a P/E ratio of 8.74 and a beta of 1.41.
Cedar Fair (NYSE:FUN – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. Cedar Fair had a negative return on equity of 22.58% and a net margin of 14.73%. The company had revenue of $500.98 million during the quarter, compared to the consensus estimate of $502.70 million. During the same period in the previous year, the company posted $0.89 EPS. Analysts predict that Cedar Fair, L.P. will post 2.49 EPS for the current fiscal year.
Cedar Fair Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $1.20 annualized dividend and a yield of 3.01%. Cedar Fair’s dividend payout ratio (DPR) is presently 26.32%.
Cedar Fair Company Profile
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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