JPMorgan Chase & Co. cut its position in Cedar Fair, L.P. (NYSE:FUN) by 80.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,729 shares of the company’s stock after selling 342,845 shares during the period. JPMorgan Chase & Co. owned about 0.15% of Cedar Fair, L.P. worth $4,783,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in FUN. Concert Wealth Management Inc. acquired a new position in Cedar Fair, L.P. during the second quarter worth about $216,000. Huntington National Bank raised its stake in shares of Cedar Fair, L.P. by 1.7% in the second quarter. Huntington National Bank now owns 3,745 shares of the company’s stock worth $217,000 after buying an additional 62 shares during the period. American Century Companies Inc. raised its stake in shares of Cedar Fair, L.P. by 13.9% in the second quarter. American Century Companies Inc. now owns 87,122 shares of the company’s stock worth $5,037,000 after buying an additional 10,665 shares during the period. Boston Advisors LLC raised its stake in shares of Cedar Fair, L.P. by 0.5% in the second quarter. Boston Advisors LLC now owns 19,323 shares of the company’s stock worth $1,117,000 after buying an additional 103 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Cedar Fair, L.P. during the second quarter worth $3,232,000.
Cedar Fair, L.P. (NYSE:FUN) traded up 1.15% on Friday, hitting $57.34. The stock had a trading volume of 16,076 shares. Cedar Fair, L.P. has a 52-week low of $48.46 and a 52-week high of $63.40. The company has a market cap of $3.22 billion, a P/E ratio of 21.99 and a beta of 0.72. The firm’s 50-day moving average is $58.49 and its 200-day moving average is $58.86.
Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by $0.04. The company earned $388 million during the quarter, compared to the consensus estimate of $390.43 million. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. Equities research analysts anticipate that Cedar Fair, L.P. will post $3.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, September 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $3.30 annualized dividend and a yield of 5.82%.
A number of brokerages have weighed in on FUN. Zacks Investment Research lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Wedbush lowered Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a research report on Friday, September 23rd. FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 8th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $69.00 target price on shares of Cedar Fair, L.P. in a research report on Wednesday, July 6th. Finally, Macquarie raised Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $65.00 in a research report on Friday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Cedar Fair, L.P. currently has a consensus rating of “Buy” and a consensus price target of $64.83.
In related news, VP Milkie Duffield sold 6,374 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $60.84, for a total value of $387,794.16. Following the completion of the transaction, the vice president now directly owns 56,550 shares in the company, valued at $3,440,502. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David R. Hoffman sold 7,043 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the completion of the transaction, the chief accounting officer now owns 36,611 shares of the company’s stock, valued at $2,219,724.93. The disclosure for this sale can be found here.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
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