Overbrook Management Corp trimmed its holdings in shares of Cedar Fair Entertainment (NYSE:FUN) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,821 shares of the company’s stock after selling 64,682 shares during the period. Cedar Fair Entertainment comprises approximately 5.6% of Overbrook Management Corp’s investment portfolio, making the stock its 5th largest holding. Overbrook Management Corp’s holdings in Cedar Fair Entertainment were worth $27,138,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in shares of Cedar Fair Entertainment during the 1st quarter worth $205,000. Santori & Peters Inc. bought a new stake in shares of Cedar Fair Entertainment during the 4th quarter worth $210,000. Clarus Wealth Advisors bought a new stake in shares of Cedar Fair Entertainment during the 4th quarter worth $213,000. Moors & Cabot Inc. bought a new stake in shares of Cedar Fair Entertainment during the 4th quarter worth $223,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Cedar Fair Entertainment during the 4th quarter worth $227,000. Institutional investors own 50.67% of the company’s stock.
A number of equities research analysts have recently commented on FUN shares. Zacks Investment Research cut Cedar Fair Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 16th. Stifel Nicolaus lifted their target price on Cedar Fair Entertainment from $74.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. KeyCorp set a $77.00 target price on Cedar Fair Entertainment and gave the stock a “buy” rating in a research note on Wednesday, February 14th. TheStreet cut Cedar Fair Entertainment from a “b” rating to a “c+” rating in a research note on Wednesday, May 2nd. Finally, ValuEngine cut Cedar Fair Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $75.50.
Shares of Cedar Fair Entertainment opened at $66.57 on Thursday, MarketBeat Ratings reports. Cedar Fair Entertainment has a 52-week low of $59.66 and a 52-week high of $72.48. The stock has a market capitalization of $3.69 billion, a P/E ratio of 16.44, a PEG ratio of 3.16 and a beta of 0.45. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of -33.37.
Cedar Fair Entertainment (NYSE:FUN) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.35) by ($0.14). Cedar Fair Entertainment had a net margin of 14.82% and a return on equity of 1,925.03%. The firm had revenue of $54.70 million during the quarter, compared to the consensus estimate of $53.96 million. During the same quarter in the prior year, the firm posted ($1.16) earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. sell-side analysts forecast that Cedar Fair Entertainment will post 3.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, June 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Friday, June 1st. Cedar Fair Entertainment’s dividend payout ratio is currently 87.90%.
Cedar Fair Entertainment 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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