Stratos Wealth Partners LTD. Sells 596 Shares of Cedar Fair, L.P. (NYSE:FUN)

Stratos Wealth Partners LTD. lowered its stake in Cedar Fair, L.P. (NYSE:FUN) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,089 shares of the company’s stock after selling 596 shares during the period. Stratos Wealth Partners LTD.’s holdings in Cedar Fair were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in shares of Cedar Fair by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 5,009,374 shares of the company’s stock worth $219,962,000 after buying an additional 19,777 shares during the period. Morgan Stanley boosted its position in Cedar Fair by 7.1% during the 4th quarter. Morgan Stanley now owns 4,882,432 shares of the company’s stock worth $201,840,000 after acquiring an additional 324,501 shares during the last quarter. Bank of America Corp DE boosted its position in Cedar Fair by 36.8% during the 1st quarter. Bank of America Corp DE now owns 3,516,915 shares of the company’s stock worth $160,688,000 after acquiring an additional 946,782 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cedar Fair by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after acquiring an additional 1,130,439 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Cedar Fair by 67.6% in the third quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after purchasing an additional 930,021 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Stock Down 2.0 %

Shares of NYSE:FUN opened at $39.20 on Friday. Cedar Fair, L.P. has a 12-month low of $34.04 and a 12-month high of $45.39. The business has a 50 day moving average of $41.49 and a 200-day moving average of $39.28. The stock has a market cap of $2.00 billion, a PE ratio of 16.00 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The firm had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Equities research analysts expect that Cedar Fair, L.P. will post 3.28 earnings per share for the current year.

Cedar Fair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Cedar Fair in a report on Saturday. They set a “buy” rating for the company. KeyCorp increased their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Mizuho assumed coverage on Cedar Fair in a research report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price on the stock. Oppenheimer assumed coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $50.30.

Cedar Fair Company Profile

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.