Cedar Fair, L.P. (NYSE:FUN) Short Interest Down 5.1% in October

Cedar Fair, L.P. (NYSE:FUN) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 10,160,000 shares, a decline of 5.1% from the September 30th total of 10,710,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. S.A. Mason LLC boosted its holdings in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares during the period. CWM LLC boosted its position in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after acquiring an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after purchasing an additional 300 shares during the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of Cedar Fair in the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FUN shares. B. Riley dropped their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial lowered their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Mizuho reduced their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus dropped their price target on shares of Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Citigroup lowered their target price on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.46.

Cedar Fair Stock Up 1.8 %

FUN traded up $0.69 during trading hours on Friday, hitting $40.10. The stock had a trading volume of 308,512 shares, compared to its average volume of 936,976. The stock has a market cap of $4.02 billion, a PE ratio of 15.92 and a beta of 1.55. The company’s fifty day simple moving average is $40.76 and its 200 day simple moving average is $44.00. Cedar Fair has a 1 year low of $34.53 and a 1 year high of $58.70.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $571.62 million for the quarter, compared to analysts’ expectations of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, equities analysts expect that Cedar Fair will post 2.02 EPS for the current year.

About Cedar Fair

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.