Commonwealth Equity Services LLC lessened its stake in Cedar Fair, L.P. (NYSE:FUN) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,330 shares of the company’s stock after selling 7,082 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Cedar Fair worth $1,387,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Naples Global Advisors LLC grew its position in Cedar Fair by 1.2% in the fourth quarter. Naples Global Advisors LLC now owns 16,635 shares of the company’s stock worth $890,000 after acquiring an additional 200 shares in the last quarter. Carnegie Capital Asset Management LLC grew its position in Cedar Fair by 0.3% in the third quarter. Carnegie Capital Asset Management LLC now owns 82,983 shares of the company’s stock worth $4,436,000 after acquiring an additional 242 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Cedar Fair by 11.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,278 shares of the company’s stock worth $155,000 after acquiring an additional 344 shares in the last quarter. Schulhoff & Co. Inc. grew its position in Cedar Fair by 1.3% in the fourth quarter. Schulhoff & Co. Inc. now owns 31,110 shares of the company’s stock worth $1,471,000 after acquiring an additional 400 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its position in Cedar Fair by 3.7% in the fourth quarter. Delta Asset Management LLC TN now owns 14,140 shares of the company’s stock worth $669,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 51.27% of the company’s stock.
Several research firms recently issued reports on FUN. Zacks Investment Research downgraded shares of Cedar Fair from a “strong-buy” rating to a “hold” rating in a report on Monday, February 18th. Macquarie upgraded shares of Cedar Fair from a “neutral” rating to an “outperform” rating in a research note on Friday, February 15th. Finally, TheStreet upgraded shares of Cedar Fair from a “c+” rating to a “b-” rating in a research note on Thursday, January 31st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $60.83.
Shares of NYSE:FUN opened at $54.77 on Friday. Cedar Fair, L.P. has a 12 month low of $45.73 and a 12 month high of $67.85. The company has a debt-to-equity ratio of 51.13, a quick ratio of 0.72 and a current ratio of 0.85. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 2.67 and a beta of 0.57.
Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, February 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.59). The business had revenue of $249.80 million during the quarter, compared to the consensus estimate of $243.23 million. Cedar Fair had a net margin of 9.39% and a return on equity of 22,432.99%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. Analysts expect that Cedar Fair, L.P. will post 3.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Monday, March 11th will be paid a $0.925 dividend. This represents a $3.70 annualized dividend and a dividend yield of 6.76%. The ex-dividend date is Friday, March 8th. Cedar Fair’s dividend payout ratio (DPR) is presently 122.52%.
In other Cedar Fair news, CEO Richard Zimmerman bought 6,000 shares of Cedar Fair stock in a transaction dated Wednesday, December 19th. The shares were bought at an average price of $48.92 per share, with a total value of $293,520.00. Following the purchase, the chief executive officer now owns 166,684 shares of the company’s stock, valued at $8,154,181.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.
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About Cedar Fair
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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