StockNews.com Initiates Coverage on Cedar Fair (NYSE:FUN)

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the stock.

Several other research analysts have also issued reports on FUN. Citigroup raised their target price on shares of Cedar Fair from $47.00 to $49.00 and gave the company a buy rating in a research note on Monday, January 9th. Credit Suisse Group increased their price target on shares of Cedar Fair from $41.00 to $46.00 and gave the company a neutral rating in a research report on Friday, February 17th. Truist Financial increased their price target on shares of Cedar Fair from $52.00 to $54.00 in a research report on Friday, January 6th. Rosenblatt Securities increased their price target on shares of Cedar Fair from $41.00 to $45.00 and gave the company a neutral rating in a research report on Wednesday, February 22nd. Finally, Stifel Nicolaus increased their price target on shares of Cedar Fair from $50.00 to $57.00 and gave the company a buy rating in a research report on Friday, February 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $53.13.

Cedar Fair Trading Down 2.3 %

Shares of NYSE FUN opened at $43.80 on Thursday. The firm has a market capitalization of $2.27 billion, a PE ratio of 8.02 and a beta of 1.45. Cedar Fair has a 1 year low of $37.58 and a 1 year high of $57.49. The firm’s 50-day moving average is $43.97 and its 200-day moving average is $41.91.

Cedar Fair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 6th. This represents a $1.20 annualized dividend and a yield of 2.74%. Cedar Fair’s dividend payout ratio (DPR) is currently 21.98%.

Institutional Trading of Cedar Fair

Several hedge funds have recently bought and sold shares of the stock. Lakewood Asset Management LLC acquired a new stake in Cedar Fair during the 4th quarter worth approximately $28,000. Natixis raised its holdings in Cedar Fair by 100.0% during the 4th quarter. Natixis now owns 3,071,600 shares of the company’s stock worth $126,980,000 after buying an additional 1,535,800 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cedar Fair by 48.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,488 shares of the company’s stock valued at $186,000 after purchasing an additional 1,463 shares during the last quarter. CI Private Wealth LLC acquired a new stake in shares of Cedar Fair in the fourth quarter valued at approximately $690,000. Finally, Sonic GP LLC acquired a new stake in shares of Cedar Fair in the fourth quarter valued at approximately $6,201,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Cedar Fair

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Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.