Wedbush Securities Inc. Sells 1,062 Shares of Cedar Fair, L.P. (NYSE:FUN)

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Wedbush Securities Inc. trimmed its position in Cedar Fair, L.P. (NYSE:FUN) by 14.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,310 shares of the company’s stock after selling 1,062 shares during the period. Wedbush Securities Inc.’s holdings in Cedar Fair were worth $301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC increased its holdings in Cedar Fair by 66.7% in the first quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Personal Wealth Partners acquired a new stake in Cedar Fair in the second quarter valued at $27,000. Synovus Financial Corp acquired a new stake in Cedar Fair in the first quarter valued at $32,000. Coastal Capital Group Inc. acquired a new stake in Cedar Fair in the second quarter valued at $31,000. Finally, Trustcore Financial Services LLC acquired a new stake in Cedar Fair in the first quarter valued at $34,000. Institutional investors own 51.60% of the company’s stock.

NYSE FUN traded up $0.07 on Friday, reaching $52.76. The company had a trading volume of 808,700 shares, compared to its average volume of 334,346. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.25 and a beta of 0.51. Cedar Fair, L.P. has a fifty-two week low of $45.58 and a fifty-two week high of $56.58. The business has a 50 day moving average of $50.12 and a two-hundred day moving average of $51.87. The company has a debt-to-equity ratio of 51.13, a current ratio of 1.39 and a quick ratio of 0.49.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.25. Cedar Fair had a negative return on equity of 939.99% and a net margin of 12.03%. The business had revenue of $436.19 million during the quarter, compared to the consensus estimate of $410.86 million. During the same period in the prior year, the business posted $0.34 earnings per share. Cedar Fair’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts predict that Cedar Fair, L.P. will post 3.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.925 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 7.01%. Cedar Fair’s payout ratio is currently 122.52%.

FUN has been the subject of a number of recent research reports. Zacks Investment Research upgraded Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. B. Riley set a $60.00 price objective on Cedar Fair and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, ValuEngine upgraded Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cedar Fair currently has an average rating of “Buy” and a consensus price target of $57.75.

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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Institutional Ownership by Quarter for Cedar Fair (NYSE:FUN)

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