Mckinley Capital Management LLC Delaware Decreases Holdings in Cedar Fair, L.P. (FUN)

Mckinley Capital Management LLC Delaware cut its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,526 shares of the company’s stock after selling 1,047 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Cedar Fair were worth $1,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FUN. Ffcm LLC acquired a new stake in Cedar Fair during the 3rd quarter worth about $109,000. Advisory Services Network LLC boosted its position in Cedar Fair by 10.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after acquiring an additional 160 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Cedar Fair by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after buying an additional 108 shares during the last quarter. Clarus Wealth Advisors acquired a new stake in shares of Cedar Fair during the 4th quarter valued at about $213,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Cedar Fair during the 4th quarter valued at about $227,000. Hedge funds and other institutional investors own 49.39% of the company’s stock.

Shares of Cedar Fair, L.P. (FUN) opened at $67.34 on Thursday. The stock has a market capitalization of $3,747.70, a PE ratio of 22.59, a PEG ratio of 3.30 and a beta of 0.45. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18. Cedar Fair, L.P. has a 1-year low of $59.66 and a 1-year high of $72.56.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.79. Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The business had revenue of $228.20 million during the quarter, compared to analyst estimates of $222.34 million. During the same period in the previous year, the company earned ($0.12) EPS. The firm’s revenue was up 18.9% on a year-over-year basis. sell-side analysts anticipate that Cedar Fair, L.P. will post 3 earnings per share for the current year.

In related news, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total value of $407,460.00. Following the transaction, the chief executive officer now directly owns 215,353 shares of the company’s stock, valued at approximately $14,624,622.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total value of $129,380.00. Following the completion of the transaction, the insider now directly owns 243,057 shares in the company, valued at $15,723,357.33. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the company. KeyCorp set a $77.00 price target on Cedar Fair and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research lowered Cedar Fair from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, B. Riley reiterated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Cedar Fair has an average rating of “Buy” and a consensus price target of $74.00.

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About Cedar Fair

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

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Institutional Ownership by Quarter for Cedar Fair (NYSE:FUN)

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