Cedar Fair, L.P. (NYSE:FUN) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its position in Cedar Fair, L.P. (NYSE:FUN) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,008,868 shares of the company’s stock after purchasing an additional 539,352 shares during the period. Goldman Sachs Group Inc. owned approximately 7.86% of Cedar Fair worth $159,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FUN. Tower Research Capital LLC TRC increased its holdings in shares of Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after acquiring an additional 562 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares during the period. Saxon Interests Inc. acquired a new position in Cedar Fair during the fourth quarter valued at $308,000. Carnegie Capital Asset Management LLC raised its position in Cedar Fair by 10.9% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 10,546 shares of the company’s stock valued at $420,000 after buying an additional 1,033 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Cedar Fair during the fourth quarter valued at $463,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Trading Down 0.6 %

Shares of NYSE:FUN traded down $0.27 during midday trading on Friday, hitting $46.73. The company had a trading volume of 110,423 shares, compared to its average volume of 175,847. Cedar Fair, L.P. has a 12 month low of $34.04 and a 12 month high of $47.60. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 19.23 and a beta of 1.45. The firm has a fifty day simple moving average of $41.78 and a 200 day simple moving average of $40.84.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The firm had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. Equities analysts forecast that Cedar Fair, L.P. will post 3.47 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, June 5th. Cedar Fair’s dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

A number of research analysts have commented on FUN shares. B. Riley boosted their target price on Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial upped their price target on Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 10th. StockNews.com started coverage on Cedar Fair in a report on Sunday. They issued a “buy” rating for the company. Finally, Mizuho dropped their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $51.10.

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.