Cedar Fair, L.P. (NYSE:FUN) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. trimmed its position in Cedar Fair, L.P. (NYSE:FUN) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,089 shares of the company’s stock after selling 596 shares during the period. Stratos Wealth Partners LTD.’s holdings in Cedar Fair were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Money Concepts Capital Corp bought a new position in Cedar Fair during the fourth quarter valued at about $26,000. Tower Research Capital LLC TRC boosted its position in shares of Cedar Fair by 355.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after purchasing an additional 636 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new position in shares of Cedar Fair in the 1st quarter worth approximately $41,000. Ancora Advisors LLC raised its holdings 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 purchasing an additional 550 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after purchasing an additional 852 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FUN. StockNews.com started coverage on Cedar Fair in a research report on Saturday. They set a “buy” rating for the company. Mizuho assumed coverage on Cedar Fair in a research report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 price target for the company. Stifel Nicolaus boosted their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Oppenheimer initiated coverage on shares of Cedar Fair in a research report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cedar Fair has a consensus rating of “Buy” and a consensus price target of $50.30.

Cedar Fair Trading Down 2.0 %

FUN opened at $39.20 on Friday. The stock has a fifty day moving average price of $41.49 and a 200 day moving average price of $39.28. Cedar Fair, L.P. has a 1 year low of $34.04 and a 1 year high of $45.39. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 16.00 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $371.12 million for the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, sell-side analysts forecast that Cedar Fair, L.P. will post 3.28 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.06%. Cedar Fair’s dividend payout ratio is currently 48.98%.

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.