Carnegie Capital Asset Management LLC Acquires 1,033 Shares of Cedar Fair, L.P. (NYSE:FUN)

Carnegie Capital Asset Management LLC grew its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 10.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,546 shares of the company’s stock after buying an additional 1,033 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Cedar Fair were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Cedar Fair by 169,595.4% in the first quarter. JPMorgan Chase & Co. now owns 256,240 shares of the company’s stock valued at $14,042,000 after purchasing an additional 256,089 shares during the period. Sei Investments Co. boosted its holdings in shares of Cedar Fair by 49.8% in the first quarter. Sei Investments Co. now owns 20,616 shares of the company’s stock valued at $1,130,000 after purchasing an additional 6,850 shares during the period. Ancora Advisors LLC boosted its holdings in shares of Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares during the period. UBS Group AG boosted its holdings in shares of Cedar Fair by 112.4% in the first quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock valued at $77,142,000 after purchasing an additional 745,056 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Cedar Fair by 117.9% in the first quarter. Invesco Ltd. now owns 1,226,084 shares of the company’s stock valued at $67,190,000 after purchasing an additional 663,373 shares during the period. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Trading Down 1.7 %

Shares of FUN stock opened at $38.74 on Thursday. The business’s fifty day simple moving average is $41.37 and its 200-day simple moving average is $39.32. The company has a market cap of $1.98 billion, a PE ratio of 15.81 and a beta of 1.41. Cedar Fair, L.P. has a 12-month low of $34.04 and a 12-month high of $45.39.

Cedar Fair (NYSE:FUN) last released its 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). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The firm had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. On average, equities analysts forecast that Cedar Fair, L.P. will post 3.28 earnings per share for the current year.

Cedar Fair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s payout ratio is 48.98%.

Analyst Ratings Changes

FUN has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a report on Friday, February 16th. Oppenheimer assumed coverage on Cedar Fair in a report on Thursday, February 8th. They set an “outperform” rating and a $49.00 target price for the company. KeyCorp upped their target price on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. StockNews.com assumed coverage on Cedar Fair in a report on Saturday, April 13th. They set a “buy” rating for the company. Finally, Truist Financial upped their target price on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.30.

Cedar Fair Profile

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.