Analysts at Oppenheimer initiated coverage on shares of Cedar Fair (NYSE:FUN – Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $49.00 price target on the stock. Oppenheimer’s price target would indicate a potential upside of 17.94% from the company’s current price.
A number of other equities analysts have also issued reports on the company. Truist Financial increased their price target on Cedar Fair from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. B. Riley decreased their price target on Cedar Fair from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Morgan Stanley increased their price target on Cedar Fair from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Stifel Nicolaus reduced their price objective on Cedar Fair from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. Finally, StockNews.com initiated coverage on Cedar Fair in a research note on Thursday, February 1st. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Cedar Fair has a consensus rating of “Moderate Buy” and a consensus price target of $49.58.
Cedar Fair Price Performance
Institutional Trading of Cedar Fair
Hedge funds and other institutional investors have recently modified their holdings of the company. PenderFund Capital Management Ltd. purchased a new stake in shares of Cedar Fair during the first quarter worth $41,000. Money Concepts Capital Corp purchased a new stake in shares of Cedar Fair during the fourth quarter worth $26,000. Tower Research Capital LLC TRC increased its position in Cedar Fair by 355.3% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after buying an additional 636 shares during the last quarter. CENTRAL TRUST Co acquired a new position in Cedar Fair during the second quarter worth $46,000. Finally, Ancora Advisors LLC increased its position in Cedar Fair by 34.6% during the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after buying an additional 550 shares during the last quarter. 61.81% of the stock is currently owned by hedge funds and other institutional investors.
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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