Cedar Fair, L.P. (NYSE:FUN) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in Cedar Fair, L.P. (NYSE:FUN) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,091 shares of the company’s stock after selling 869 shares during the quarter. Raymond James & Associates owned approximately 0.05% of Cedar Fair worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Money Concepts Capital Corp acquired a new position in Cedar Fair in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC raised its position in shares of Cedar Fair by 355.3% in the first 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. purchased a new position in shares of Cedar Fair during the first quarter valued at approximately $41,000. Ancora Advisors LLC boosted 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 acquiring an additional 550 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after acquiring an additional 852 shares during the period. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Stock Performance

NYSE FUN opened at $38.08 on Monday. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.54 and a beta of 1.41. Cedar Fair, L.P. has a one year low of $34.04 and a one year high of $45.39. The company’s 50 day moving average price is $41.24 and its 200 day moving average price is $39.36.

Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. Sell-side analysts forecast that Cedar Fair, L.P. will post 3.27 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FUN shares. Stifel Nicolaus increased their price target on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Truist Financial increased their target price on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Oppenheimer initiated coverage on Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target for the company. KeyCorp increased their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, StockNews.com initiated coverage on shares of Cedar Fair in a report on Sunday. They issued a “buy” rating for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cedar Fair currently has an average rating of “Buy” and a consensus price target 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.