Cedar Fair (NYSE:FUN) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Cedar Fair, L.P. (NYSE:FUN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.97 and traded as high as $45.44. Cedar Fair shares last traded at $44.00, with a volume of 2,290,296 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FUN shares. Guggenheim raised their target price on Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 target price for the company. JPMorgan Chase & Co. raised their target price on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cedar Fair in a research report on Thursday, November 7th. Finally, Truist Financial raised their target price on Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.54.

Cedar Fair Stock Up 1.5 %

The business has a 50-day simple moving average of $45.77 and a two-hundred day simple moving average of $43.99. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -68.74 and a beta of 1.55. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Institutional Trading of Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new position in Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

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.