Cedar Fair, L.P. (NYSE:FUN – Get Free Report) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 8,180,000 shares, a drop of 16.4% from the July 15th total of 9,790,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is currently 6.2 days.
Cedar Fair Stock Performance
Shares of FUN stock traded up $0.28 on Friday, reaching $44.44. 1,033,455 shares of the company were exchanged, compared to its average volume of 707,329. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $58.70. The business has a 50-day moving average price of $49.19 and a 200 day moving average price of $44.14. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 18.29 and a beta of 1.54.
Cedar Fair Announces Dividend
The company also recently announced a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were issued a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is currently 49.38%.
Wall Street Analyst Weigh In
Institutional Trading of Cedar Fair
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in 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 purchasing an additional 562 shares during the last quarter. CWM LLC raised its position in shares of Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Brookstone Capital Management acquired a new stake in Cedar Fair in the 2nd quarter valued at about $215,000. 64.65% of the stock is owned by institutional investors and hedge funds.
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.
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