Cedar Fair (NYSE:FUN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a report published on Monday morning. The firm issued a hold rating on the stock.

FUN has been the subject of several other reports. B. Riley cut their price target on shares of Cedar Fair from $77.00 to $65.00 and set a buy rating for the company in a research report on Friday, August 9th. Mizuho dropped their target price on Cedar Fair from $55.00 to $52.00 and set an outperform rating for the company in a report on Friday, August 9th. Macquarie decreased their price target on Cedar Fair from $64.00 to $60.00 and set an outperform rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group lowered their price objective on Cedar Fair from $63.00 to $55.00 and set a neutral rating for the company in a research report on Monday, August 12th. Finally, Oppenheimer raised their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cedar Fair currently has a consensus rating of Moderate Buy and an average price target of $58.82.

Cedar Fair Stock Performance

Shares of FUN opened at $45.31 on Monday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 18.65 and a beta of 1.54. The firm has a 50 day moving average price of $49.21 and a 200-day moving average price of $44.24.

Cedar Fair Announces Dividend

The company also recently announced a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were paid a $1.53 dividend. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is presently 49.38%.

Institutional Investors Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torno Capital LLC bought a new stake in shares of Cedar Fair during the 2nd quarter valued at $4,413,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Cedar Fair by 31.1% in the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after buying an additional 2,804 shares during the last quarter. Finally, Brookstone Capital Management purchased a new stake in shares of Cedar Fair during the second quarter valued at approximately $215,000. 64.65% of the stock is 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.