Wealthcare Advisory Partners LLC lowered its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 750 shares of the company’s stock after selling 200 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cedar Fair were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FUN. Capital Investment Advisory Services LLC lifted its holdings in shares of Cedar Fair by 66.7% during the 1st quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Synovus Financial Corp bought a new position in shares of Cedar Fair during the 1st quarter valued at about $32,000. PRW Wealth Management LLC bought a new position in shares of Cedar Fair during the 4th quarter valued at about $34,000. Trustcore Financial Services LLC bought a new position in shares of Cedar Fair during the 1st quarter valued at about $34,000. Finally, Horan Capital Advisors LLC. bought a new position in shares of Cedar Fair during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 51.67% of the company’s stock.
FUN has been the topic of a number of recent research reports. Macquarie raised Cedar Fair from a “neutral” rating to an “outperform” rating in a research report on Friday, February 15th. TheStreet lowered Cedar Fair from a “b-” rating to a “c” rating in a research report on Monday, March 18th. B. Riley set a $60.00 target price on Cedar Fair and gave the company a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered Cedar Fair from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 18th. Finally, ValuEngine lowered Cedar Fair from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.83.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($1.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.47) by $0.01. The firm had revenue of $67.00 million for the quarter, compared to analyst estimates of $55.14 million. Cedar Fair had a negative return on equity of 1,151.68% and a net margin of 9.29%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.49) EPS. As a group, analysts anticipate that Cedar Fair, L.P. will post 3.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a dividend yield of 7.50%. The ex-dividend date is Monday, June 3rd. Cedar Fair’s dividend payout ratio (DPR) is 122.52%.
Cedar Fair 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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