Cedar Fair, L.P. (FUN) Stake Lowered by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 62.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,682 shares of the company’s stock after selling 4,492 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cedar Fair, L.P. were worth $192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC purchased a new position in shares of Cedar Fair, L.P. during the second quarter worth about $145,981,000. Royal Bank of Canada grew its holdings in shares of Cedar Fair, L.P. by 3.5% during the second quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock worth $72,427,000 after purchasing an additional 34,144 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cedar Fair, L.P. by 12.0% during the second quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock worth $35,065,000 after purchasing an additional 52,085 shares in the last quarter. QS Investors LLC grew its holdings in shares of Cedar Fair, L.P. by 31.6% during the second quarter. QS Investors LLC now owns 54,973 shares of the company’s stock worth $3,964,000 after purchasing an additional 13,205 shares in the last quarter. Finally, Aureus Asset Management LLC grew its holdings in shares of Cedar Fair, L.P. by 15.8% during the second quarter. Aureus Asset Management LLC now owns 221,246 shares of the company’s stock worth $15,952,000 after purchasing an additional 30,253 shares in the last quarter. 51.46% of the stock is owned by institutional investors.

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Shares of Cedar Fair, L.P. (NYSE FUN) traded down 0.05% on Wednesday, hitting $63.12. The stock had a trading volume of 9,671 shares. Cedar Fair, L.P. has a 52 week low of $56.23 and a 52 week high of $72.56. The firm has a 50-day moving average price of $65.03 and a 200-day moving average price of $68.41. The stock has a market capitalization of $3.55 billion, a P/E ratio of 26.48 and a beta of 0.48.

Cedar Fair, L.P. (NYSE:FUN) last released its earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.20). Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business had revenue of $392.80 million for the quarter, compared to analysts’ expectations of $405.78 million. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts expect that Cedar Fair, L.P. will post $2.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th were issued a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a yield of 5.42%. The ex-dividend date was Friday, September 1st. Cedar Fair, L.P.’s dividend payout ratio is presently 144.30%.

In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the completion of the transaction, the chief executive officer now owns 193,199 shares in the company, valued at approximately $12,538,615.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew A. Ouimet sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $66.80, for a total value of $200,400.00. Following the transaction, the chief executive officer now owns 195,199 shares of the company’s stock, valued at approximately $13,039,293.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Several research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $78.00 price objective on shares of Cedar Fair, L.P. in a report on Friday, July 7th. KeyCorp reissued an “overweight” rating and set a $74.00 price objective on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. Zacks Investment Research raised Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, July 12th. BidaskClub raised Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Goldman Sachs Group, Inc. (The) raised Cedar Fair, L.P. from a “buy” rating to a “conviction-buy” rating and set a $81.00 price objective for the company in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.38.

Cedar Fair, L.P. Profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

Institutional Ownership by Quarter for Cedar Fair, L.P. (NYSE:FUN)

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