Greenwich Investment Management Inc. trimmed its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,560 shares of the company’s stock after selling 235 shares during the period. Cedar Fair accounts for 0.9% of Greenwich Investment Management Inc.’s portfolio, making the stock its 26th biggest position. Greenwich Investment Management Inc.’s holdings in Cedar Fair were worth $933,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Advisory Services Network LLC boosted its holdings in shares of Cedar Fair by 55.2% in the second quarter. Advisory Services Network LLC now owns 6,509 shares of the company’s stock worth $310,000 after buying an additional 2,314 shares during the period. Keybank National Association OH boosted its holdings in shares of Cedar Fair by 5.6% in the second quarter. Keybank National Association OH now owns 112,644 shares of the company’s stock worth $5,372,000 after buying an additional 6,000 shares during the period. Advisor Group Inc. boosted its holdings in shares of Cedar Fair by 5.4% in the second quarter. Advisor Group Inc. now owns 21,575 shares of the company’s stock worth $1,030,000 after buying an additional 1,113 shares during the period. Coastal Capital Group Inc. acquired a new position in shares of Cedar Fair in the second quarter worth about $31,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Cedar Fair by 22.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,384 shares of the company’s stock worth $161,000 after buying an additional 624 shares during the period. 51.60% of the stock is currently owned by institutional investors.
Several research analysts have commented on FUN shares. B. Riley set a $60.00 target price on shares of Cedar Fair and gave the stock a “buy” rating in a report on Thursday, June 13th. ValuEngine upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cedar Fair presently has a consensus rating of “Buy” and a consensus price target of $57.75.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.25. The business had revenue of $436.19 million during the quarter, compared to analyst estimates of $410.86 million. Cedar Fair had a net margin of 12.03% and a return on equity of 4,170.80%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Cedar Fair, L.P. will post 3.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Wednesday, September 4th will be given a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a yield of 7.11%. The ex-dividend date is Tuesday, September 3rd. Cedar Fair’s payout ratio is presently 122.52%.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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