Edge Wealth Management LLC lessened its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,450 shares of the company’s stock after selling 500 shares during the quarter. Edge Wealth Management LLC’s holdings in Cedar Fair were worth $116,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in FUN. First Republic Investment Management Inc. acquired a new stake in Cedar Fair during the 2nd quarter valued at approximately $320,000. Morgan Stanley increased its position in Cedar Fair by 53.2% during the 2nd quarter. Morgan Stanley now owns 898,990 shares of the company’s stock valued at $56,645,000 after purchasing an additional 312,338 shares during the period. Marshall Wace LLP increased its position in Cedar Fair by 732.6% during the 2nd quarter. Marshall Wace LLP now owns 31,149 shares of the company’s stock valued at $1,963,000 after purchasing an additional 27,408 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Cedar Fair during the 2nd quarter valued at approximately $800,000. Finally, Aurora Investment Counsel increased its position in Cedar Fair by 6.7% during the 3rd quarter. Aurora Investment Counsel now owns 42,135 shares of the company’s stock valued at $2,194,000 after purchasing an additional 2,645 shares during the period. 50.77% of the stock is owned by institutional investors and hedge funds.
In other Cedar Fair news, Director Thomas Klein purchased 20,000 shares of Cedar Fair stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average price of $50.98 per share, with a total value of $1,019,600.00. Following the transaction, the director now owns 56,012 shares in the company, valued at approximately $2,855,491.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Affeldt purchased 2,000 shares of Cedar Fair stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average cost of $51.44 per share, with a total value of $102,880.00. Following the transaction, the director now owns 12,200 shares in the company, valued at approximately $627,568. The disclosure for this purchase can be found here. In the last three months, insiders purchased 28,000 shares of company stock valued at $1,416,000. 2.00% of the stock is currently owned by insiders.
Shares of FUN stock opened at $53.62 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 13.24, a P/E/G ratio of 2.73 and a beta of 0.45. Cedar Fair, L.P. has a 52 week low of $45.73 and a 52 week high of $70.82. The company has a debt-to-equity ratio of 18.09, a current ratio of 1.07 and a quick ratio of 0.94.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.21 by $0.55. The company had revenue of $663.70 million during the quarter, compared to the consensus estimate of $659.45 million. Cedar Fair had a net margin of 15.58% and a return on equity of 1,656.35%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.38 EPS. On average, sell-side analysts expect that Cedar Fair, L.P. will post 2.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Tuesday, December 4th were given a $0.925 dividend. The ex-dividend date was Monday, December 3rd. This represents a $3.70 annualized dividend and a yield of 6.90%. This is an increase from Cedar Fair’s previous quarterly dividend of $0.89. Cedar Fair’s dividend payout ratio (DPR) is presently 91.36%.
A number of analysts have weighed in on FUN shares. ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research downgraded shares of Cedar Fair from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $54.00 price objective on shares of Cedar Fair in a research report on Monday, December 24th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.83.
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Cedar Fair Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California’s Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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