Allianz Asset Management GmbH Acquires 19,005 Shares of Cedar Fair, L.P. (FUN)

Allianz Asset Management GmbH raised its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,120 shares of the company’s stock after acquiring an additional 19,005 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.23% of Cedar Fair worth $8,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. FMR LLC increased its holdings in Cedar Fair by 42.9% during the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after acquiring an additional 1,220,099 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Cedar Fair during the 2nd quarter valued at about $145,981,000. Royal Bank of Canada increased its holdings in Cedar Fair by 3.5% during the 2nd quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock valued at $72,427,000 after acquiring an additional 34,144 shares in the last quarter. Northwestern Mutual Investment Management Company LLC purchased a new position in Cedar Fair during the 2nd quarter valued at about $31,274,000. Finally, Goldman Sachs Group Inc. increased its holdings in Cedar Fair by 12.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock valued at $35,065,000 after acquiring an additional 52,085 shares in the last quarter. Hedge funds and other institutional investors own 49.91% of the company’s stock.

Shares of Cedar Fair, L.P. (FUN) opened at $68.20 on Monday. The company has a market cap of $3,835.43, a PE ratio of 23.12, a PEG ratio of 3.78 and a beta of 0.52. Cedar Fair, L.P. has a twelve month low of $59.66 and a twelve month high of $72.56. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.18). The firm had revenue of $652.69 million for the quarter, compared to analysts’ expectations of $652.98 million. Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.10 earnings per share. research analysts predict that Cedar Fair, L.P. will post 3 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, December 4th were issued a dividend of $0.89 per share. The ex-dividend date was Friday, December 1st. This is an increase from Cedar Fair’s previous quarterly dividend of $0.86. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.22%. Cedar Fair’s payout ratio is 134.34%.

In other news, CEO Matthew A. Ouimet sold 4,000 shares of Cedar Fair stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $66.40, for a total transaction of $265,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

FUN has been the subject of several recent research reports. Goldman Sachs Group downgraded shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp restated an “overweight” rating and set a $74.00 target price on shares of Cedar Fair in a report on Wednesday, August 30th. FBR & Co reiterated a “buy” rating on shares of Cedar Fair in a report on Thursday, September 7th. Finally, B. Riley reiterated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.38.

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Cedar Fair Company 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 (NYSE:FUN)

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