Bard Associates Inc. lowered its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 8.1% in the second quarter, HoldingsChannel reports. The firm owned 17,116 shares of the company’s stock after selling 1,500 shares during the period. Bard Associates Inc.’s holdings in Cedar Fair were worth $1,078,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in FUN. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Cedar Fair during the 1st quarter worth about $139,000. Ostrum Asset Management acquired a new stake in shares of Cedar Fair during the 1st quarter worth about $198,000. Koch Industries Inc. acquired a new stake in shares of Cedar Fair during the 1st quarter worth about $205,000. Pennsylvania Trust Co bought a new stake in Cedar Fair during the 2nd quarter worth about $238,000. Finally, Jane Street Group LLC bought a new stake in Cedar Fair during the 1st quarter worth about $278,000. Institutional investors and hedge funds own 51.36% of the company’s stock.
FUN has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Cedar Fair from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. ValuEngine lowered shares of Cedar Fair from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Macquarie lowered shares of Cedar Fair from an “outperform” rating to a “neutral” rating in a report on Friday, July 13th. KeyCorp decreased their price objective on shares of Cedar Fair from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 2nd. Finally, B. Riley decreased their price objective on shares of Cedar Fair from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Cedar Fair currently has an average rating of “Hold” and an average price target of $66.67.
Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.58). Cedar Fair had a return on equity of 2,149.78% and a net margin of 14.04%. The company had revenue of $380.32 million for the quarter, compared to the consensus estimate of $387.60 million. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. analysts expect that Cedar Fair, L.P. will post 2.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, September 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Tuesday, September 4th. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.75. Cedar Fair’s dividend payout ratio (DPR) is 87.90%.
In other Cedar Fair news, Director Thomas Klein bought 10,000 shares of Cedar Fair stock in a transaction dated Monday, August 6th. The shares were bought at an average price of $51.17 per share, with a total value of $511,700.00. Following the purchase, the director now owns 36,012 shares of the company’s stock, valued at $1,842,734.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.
About Cedar Fair
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.
Further Reading: Google Finance Portfolio Workaround
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