Cedar Fair (NYSE:FUN) Stock Price Passes Above 200 Day Moving Average of $40.39

Cedar Fair, L.P. (NYSE:FUNGet Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $40.39 and traded as high as $43.25. Cedar Fair shares last traded at $42.45, with a volume of 82,031 shares changing hands.

Analysts Set New Price Targets

FUN has been the topic of a number of research analyst reports. Oppenheimer assumed coverage on Cedar Fair in a report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price target on the stock. Truist Financial raised their price target on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 10th. B. Riley reiterated a “buy” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Stifel Nicolaus lifted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Mizuho dropped their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.40.

Get Our Latest Stock Analysis on FUN

Cedar Fair Stock Performance

The stock has a 50 day moving average of $41.14 and a two-hundred day moving average of $40.39. The firm has a market capitalization of $2.18 billion, a P/E ratio of 17.47 and a beta of 1.42.

Cedar Fair (NYSE:FUNGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. Sell-side analysts predict that Cedar Fair, L.P. will post 3.47 EPS for the current year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, June 5th. Cedar Fair’s dividend payout ratio is currently 49.38%.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently made changes to their positions in the business. Cetera Advisors LLC increased its position in Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares during the period. HAP Trading LLC acquired a new position in Cedar Fair during the 1st quarter valued at $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in Cedar Fair by 121.9% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock valued at $1,017,000 after purchasing an additional 13,332 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new stake in Cedar Fair in the 1st quarter valued at $257,000. Finally, PNC Financial Services Group Inc. grew its position in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Company Profile

(Get Free Report)

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.

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