Cedar Fair (NYSE:FUN) Hits New 52-Week Low – Should You Sell?

Cedar Fair, L.P. (NYSE:FUN) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $34.75 and last traded at $35.87, with a volume of 1179158 shares changing hands. The stock had previously closed at $37.64.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group assumed coverage on Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective for the company. Truist Financial raised their price target on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research note on Friday. Finally, Citigroup boosted their target price on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cedar Fair has an average rating of “Moderate Buy” and a consensus price target of $56.15.

Cedar Fair Trading Down 4.3 %

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market capitalization of $3.62 billion, a P/E ratio of -56.30 and a beta of 1.54. The business’s 50-day moving average is $44.90 and its 200 day moving average is $43.85.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.