Cedar Fair (NYSE:FUN) Sees Large Volume Increase

Cedar Fair, L.P. (NYSE:FUN) shares saw an uptick in trading volume on Tuesday . 1,245,302 shares traded hands during mid-day trading, an increase of 446% from the previous session’s volume of 228,125 shares.The stock last traded at $41.69 and had previously closed at $42.28.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FUN. B. Riley reiterated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Truist Financial lifted their target price on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Mizuho began coverage on Cedar Fair in a research report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price for the company. StockNews.com began coverage on Cedar Fair in a research report on Thursday, March 28th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $50.30.

Cedar Fair Price Performance

The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.30 and a beta of 1.41. The business has a 50 day simple moving average of $41.41 and a 200-day simple moving average of $39.21.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The business had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. As a group, equities analysts predict that Cedar Fair, L.P. will post 3.28 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.90%. Cedar Fair’s payout ratio is 48.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Cedar Fair by 169,595.4% in the first quarter. JPMorgan Chase & Co. now owns 256,240 shares of the company’s stock valued at $14,042,000 after purchasing an additional 256,089 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Cedar Fair by 49.8% in the first quarter. Sei Investments Co. now owns 20,616 shares of the company’s stock valued at $1,130,000 after purchasing an additional 6,850 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares in the last quarter. UBS Group AG lifted its holdings in shares of Cedar Fair by 112.4% in the first quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock valued at $77,142,000 after purchasing an additional 745,056 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Cedar Fair by 117.9% in the first quarter. Invesco Ltd. now owns 1,226,084 shares of the company’s stock valued at $67,190,000 after purchasing an additional 663,373 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

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.