Cedar Fair, L.P. (NYSE:FUN) Director Eric Affeldt acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was purchased at an average price of $51.44 per share, for a total transaction of $102,880.00. Following the completion of the acquisition, the director now owns 12,200 shares in the company, valued at $627,568. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NYSE:FUN opened at $52.42 on Thursday. The stock has a market cap of $2.95 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.12 and a beta of 0.31. The company has a current ratio of 1.07, a quick ratio of 0.94 and a debt-to-equity ratio of 18.09. Cedar Fair, L.P. has a one year low of $47.90 and a one year high of $70.82.
Cedar Fair (NYSE:FUN) last announced its earnings results on Tuesday, October 30th. The company reported $3.76 EPS for the quarter, beating the consensus estimate of $3.21 by $0.55. The business had revenue of $663.70 million for the quarter, compared to the consensus estimate of $659.45 million. Cedar Fair had a return on equity of 1,656.35% and a net margin of 15.58%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $3.38 EPS. On average, equities analysts forecast that Cedar Fair, L.P. will post 2.79 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the business. Schulhoff & Co. Inc. increased its holdings in Cedar Fair by 16.7% during the 3rd quarter. Schulhoff & Co. Inc. now owns 30,710 shares of the company’s stock worth $1,599,000 after purchasing an additional 4,400 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Cedar Fair by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,133 shares of the company’s stock worth $18,913,000 after purchasing an additional 39,074 shares during the last quarter. Columbia Asset Management purchased a new stake in Cedar Fair during the 3rd quarter worth approximately $154,000. Cannell Peter B & Co. Inc. increased its holdings in Cedar Fair by 14.3% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 23,575 shares of the company’s stock worth $1,228,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in Cedar Fair by 161.0% during the 3rd quarter. Brookstone Capital Management now owns 9,347 shares of the company’s stock worth $487,000 after purchasing an additional 5,766 shares during the last quarter. Institutional investors own 51.37% of the company’s stock.
FUN has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Cedar Fair from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. ValuEngine upgraded Cedar Fair from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Macquarie downgraded Cedar Fair from an “outperform” rating to a “neutral” rating in a report on Friday, July 13th. KeyCorp dropped their target price on Cedar Fair from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 2nd. Finally, B. Riley dropped their target price on Cedar Fair from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Cedar Fair presently has a consensus rating of “Hold” and a consensus price target of $65.00.
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Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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