Boston Advisors LLC increased its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 19,323 shares of the company’s stock after buying an additional 103 shares during the period. Boston Advisors LLC’s holdings in Cedar Fair, L.P. were worth $1,117,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Cedar Fair, L.P. by 5.1% in the first quarter. Royal Bank of Canada now owns 921,305 shares of the company’s stock valued at $54,773,000 after buying an additional 44,427 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Cedar Fair, L.P. by 5.6% in the first quarter. Rehmann Capital Advisory Group now owns 4,745 shares of the company’s stock valued at $282,000 after buying an additional 250 shares during the period. Commonwealth Equity Services Inc boosted its position in shares of Cedar Fair, L.P. by 6.2% in the first quarter. Commonwealth Equity Services Inc now owns 15,499 shares of the company’s stock valued at $921,000 after buying an additional 903 shares during the period. BB&T Securities LLC bought a new position in shares of Cedar Fair, L.P. during the first quarter valued at $205,000. Finally, Renaissance Technologies LLC boosted its position in shares of Cedar Fair, L.P. by 38.7% in the first quarter. Renaissance Technologies LLC now owns 303,150 shares of the company’s stock valued at $18,022,000 after buying an additional 84,600 shares during the period.
Shares of Cedar Fair, L.P. (NYSE:FUN) traded down 0.37% during midday trading on Friday, reaching $57.29. The company had a trading volume of 192,004 shares. Cedar Fair, L.P. has a 1-year low of $48.46 and a 1-year high of $63.40. The company’s 50-day moving average is $58.64 and its 200-day moving average is $58.93. The stock has a market capitalization of $3.21 billion, a PE ratio of 21.97 and a beta of 0.72.
Cedar Fair, L.P. (NYSE:FUN) last released its earnings results on Wednesday, August 3rd. The company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business earned $388 million during the quarter, compared to analyst estimates of $390.43 million. During the same quarter last year, the business earned $1.02 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Cedar Fair, L.P. will post $3.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 5.76%. The ex-dividend date was Thursday, September 1st.
FUN has been the topic of several recent analyst reports. Wedbush cut Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a research note on Friday, September 23rd. Credit Suisse Group AG set a $67.00 price objective on Cedar Fair, L.P. and gave the company a “buy” rating in a research note on Monday, September 12th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $68.00 target price on shares of Cedar Fair, L.P. in a research report on Thursday, September 1st. Macquarie raised Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and raised their target price for the company from $60.00 to $65.00 in a research report on Friday, July 8th. Finally, Zacks Investment Research lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Cedar Fair, L.P. currently has a consensus rating of “Buy” and a consensus price target of $64.83.
In other Cedar Fair, L.P. news, CAO David R. Hoffman sold 7,043 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the sale, the chief accounting officer now directly owns 36,611 shares of the company’s stock, valued at $2,219,724.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Milkie Duffield sold 6,374 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $60.84, for a total value of $387,794.16. Following the completion of the sale, the vice president now directly owns 56,550 shares in the company, valued at $3,440,502. The disclosure for this sale can be found here.
About Cedar Fair, L.P.
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
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