Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Monday. The firm set a “buy” rating on the stock.

A number of other research firms also recently weighed in on FUN. Mizuho decreased their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. B. Riley lifted their target price on Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Truist Financial lifted their target price on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $51.10.

Cedar Fair Price Performance

NYSE:FUN opened at $49.35 on Monday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 20.31 and a beta of 1.45. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $52.53. The firm’s fifty day moving average price is $43.28 and its 200 day moving average price is $41.41.

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

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Goldman Sachs Group Inc. lifted its stake in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Cedar Fair by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after acquiring an additional 1,130,439 shares in the last quarter. UBS Group AG boosted its position in shares of Cedar Fair by 313.7% in the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after purchasing an additional 2,310,565 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Cedar Fair in the 3rd quarter worth approximately $25,215,000. Finally, Impala Asset Management LLC boosted its position in shares of Cedar Fair by 21.9% in the 3rd quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock worth $14,024,000 after purchasing an additional 68,150 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

About Cedar Fair

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.