Stifel Financial Corp lifted its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 2.0% during the third quarter, Holdings Channel.com reports. The firm owned 182,149 shares of the company’s stock after acquiring an additional 3,515 shares during the period. Stifel Financial Corp’s holdings in Cedar Fair were worth $10,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Cedar Fair during the 3rd quarter worth approximately $35,000. Tower Research Capital LLC TRC purchased a new position in shares of Cedar Fair during the 3rd quarter valued at approximately $71,000. SG Americas Securities LLC purchased a new position in shares of Cedar Fair during the 3rd quarter valued at approximately $730,000. Keybank National Association OH lifted its position in shares of Cedar Fair by 0.7% during the 3rd quarter. Keybank National Association OH now owns 113,419 shares of the company’s stock valued at $6,619,000 after buying an additional 775 shares in the last quarter. Finally, Schulhoff & Co. Inc. lifted its position in shares of Cedar Fair by 7.2% during the 3rd quarter. Schulhoff & Co. Inc. now owns 36,710 shares of the company’s stock valued at $2,142,000 after buying an additional 2,450 shares in the last quarter. 51.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:FUN opened at $55.94 on Tuesday. The business’s 50 day moving average price is $56.29 and its 200-day moving average price is $53.41. The company has a debt-to-equity ratio of 50.48, a current ratio of 1.17 and a quick ratio of 1.05. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48. Cedar Fair, L.P. has a 1 year low of $45.58 and a 1 year high of $64.86.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.12). The firm had revenue of $714.50 million during the quarter, compared to analysts’ expectations of $684.43 million. Cedar Fair had a net margin of 10.02% and a negative return on equity of 528.93%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.76 EPS. On average, sell-side analysts expect that Cedar Fair, L.P. will post 3.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Wednesday, December 4th will be issued a $0.935 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $3.74 dividend on an annualized basis and a yield of 6.69%. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.93. Cedar Fair’s dividend payout ratio (DPR) is presently 122.52%.
A number of brokerages have recently issued reports on FUN. KeyCorp decreased their target price on Cedar Fair from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. TheStreet upgraded Cedar Fair from a “c” rating to a “b-” rating in a research report on Thursday, August 29th. SunTrust Banks upgraded Cedar Fair from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Thursday, August 22nd. B. Riley reiterated a “neutral” rating and set a $57.00 target price (down previously from $60.00) on shares of Cedar Fair in a research report on Monday. Finally, Wedbush set a $60.00 target price on Cedar Fair and gave the company a “buy” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.00.
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.
Recommended Story: Leveraged Buyout (LBO) Explained
Want to see what other hedge funds are holding FUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cedar Fair, L.P. (NYSE:FUN).
Receive News & Ratings for Cedar Fair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair and related companies with MarketBeat.com's FREE daily email newsletter.