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

StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Monday. The brokerage issued a buy rating on the stock.

A number of other research firms have also recently issued reports on FUN. Truist Financial dropped their price target on shares of Cedar Fair from $46.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, October 24th. Macquarie reduced their price target on Cedar Fair from $52.00 to $50.00 and set an outperform rating on the stock in a report on Monday, August 21st. B. Riley reduced their price target on Cedar Fair from $58.00 to $56.00 and set a buy rating on the stock in a report on Wednesday, October 18th. Stifel Nicolaus reduced their price target on Cedar Fair from $54.00 to $51.00 and set a buy rating on the stock in a report on Friday, August 4th. Finally, The Goldman Sachs Group reduced their price target on Cedar Fair from $50.00 to $43.00 and set a buy rating on the stock in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $49.00.

Cedar Fair Stock Performance

Cedar Fair stock opened at $37.35 on Monday. The company’s fifty day moving average price is $37.44 and its 200 day moving average price is $39.60. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $47.95. The stock has a market capitalization of $1.91 billion, a P/E ratio of 12.84 and a beta of 1.45.

Cedar Fair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, December 5th. Cedar Fair’s dividend payout ratio is presently 41.24%.

Hedge Funds Weigh In On Cedar Fair

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Money Concepts Capital Corp acquired a new position in Cedar Fair in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC boosted its holdings in Cedar Fair by 355.3% in the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after purchasing an additional 636 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new position in Cedar Fair in the first quarter valued at approximately $41,000. CENTRAL TRUST Co acquired a new position in Cedar Fair in the second quarter valued at approximately $46,000. Finally, Ancora Advisors LLC boosted its holdings in Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares in the last quarter. 61.81% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.