Stratos Wealth Partners LTD. decreased its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 2.5% during the 1st quarter, Holdings Channel reports. The firm owned 13,141 shares of the company’s stock after selling 337 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cedar Fair were worth $692,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Aveo Capital Partners LLC boosted its holdings in Cedar Fair by 18.5% during the first quarter. Aveo Capital Partners LLC now owns 6,415 shares of the company’s stock worth $338,000 after buying an additional 1,000 shares in the last quarter. Raymond James & Associates boosted its holdings in Cedar Fair by 2.4% during the first quarter. Raymond James & Associates now owns 153,423 shares of the company’s stock worth $8,073,000 after buying an additional 3,586 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Cedar Fair by 2.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,903 shares of the company’s stock worth $1,047,000 after buying an additional 505 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Cedar Fair during the first quarter worth approximately $364,000. Finally, Cetera Advisors LLC boosted its holdings in Cedar Fair by 326.6% during the first quarter. Cetera Advisors LLC now owns 39,227 shares of the company’s stock worth $2,063,000 after buying an additional 30,032 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.
Cedar Fair stock traded up $0.08 during midday trading on Wednesday, reaching $53.74. The stock had a trading volume of 139 shares, compared to its average volume of 204,613. Cedar Fair, L.P. has a twelve month low of $45.73 and a twelve month high of $67.35. The company has a debt-to-equity ratio of 51.13, a quick ratio of 0.72 and a current ratio of 0.63. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.66 and a beta of 0.57.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. Cedar Fair had a net margin of 9.29% and a negative return on equity of 1,151.68%. The firm had revenue of $67.00 million during the quarter, compared to analyst estimates of $55.14 million. During the same quarter last year, the business posted ($1.49) EPS. The company’s revenue was up 22.5% on a year-over-year basis. Equities analysts forecast that Cedar Fair, L.P. will post 3.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be paid a $0.925 dividend. This represents a $3.70 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Monday, June 3rd. Cedar Fair’s dividend payout ratio is 122.52%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Friday, May 17th. B. Riley set a $60.00 target price on shares of Cedar Fair and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, TheStreet cut shares of Cedar Fair from a “b-” rating to a “c” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $60.83.
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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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