Raymond James Financial Services Advisors Inc. Has $694,000 Stock Position in Cedar Fair, L.P. (NYSE:FUN)

Raymond James Financial Services Advisors Inc. reduced its position in Cedar Fair, L.P. (NYSE:FUN) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,434 shares of the company’s stock after selling 303 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cedar Fair were worth $694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PenderFund Capital Management Ltd. acquired a new stake in shares of Cedar Fair in the 1st quarter valued at $41,000. Money Concepts Capital Corp bought a new position in Cedar Fair during the fourth quarter worth about $26,000. Tower Research Capital LLC TRC lifted its holdings in Cedar Fair by 355.3% during the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after acquiring an additional 636 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Cedar Fair by 34.6% during the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after acquiring an additional 550 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its holdings in Cedar Fair by 33.9% during the third quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock worth $110,000 after acquiring an additional 680 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FUN. StockNews.com began coverage on Cedar Fair in a report on Saturday, April 13th. They set a “buy” rating on the stock. KeyCorp lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. B. Riley restated a “buy” rating and issued a $52.00 price target (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Mizuho began coverage on Cedar Fair in a report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Oppenheimer began coverage on Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $50.30.

Cedar Fair Stock Performance

NYSE:FUN opened at $38.74 on Thursday. The stock’s 50-day simple moving average is $41.37 and its 200 day simple moving average is $39.32. The company has a market cap of $1.98 billion, a P/E ratio of 15.81 and a beta of 1.41. Cedar Fair, L.P. has a 52-week low of $34.04 and a 52-week high of $45.39.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, equities analysts predict that Cedar Fair, L.P. will post 3.28 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

Cedar Fair 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.