Raymond James Financial Services Advisors Inc. Has $694,000 Position in Cedar Fair, L.P. (NYSE:FUN)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,434 shares of the company’s stock after selling 303 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cedar Fair were worth $694,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. PenderFund Capital Management Ltd. bought a new position in shares of Cedar Fair during the 1st quarter worth about $41,000. Money Concepts Capital Corp bought a new position in shares of Cedar Fair during the 4th quarter worth about $26,000. Tower Research Capital LLC TRC boosted its position in shares of Cedar Fair by 355.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after purchasing an additional 636 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Cedar Fair by 34.6% during the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after purchasing an additional 550 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its position in shares of Cedar Fair by 33.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock worth $110,000 after purchasing an additional 680 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair Stock Down 1.7 %

Shares of NYSE FUN opened at $38.74 on Thursday. The company has a market capitalization of $1.98 billion, a PE ratio of 15.81 and a beta of 1.41. The stock’s 50 day moving average price is $41.37 and its 200-day moving average price is $39.32. Cedar Fair, L.P. has a twelve month low of $34.04 and a twelve month high of $45.39.

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

Cedar Fair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FUN shares. 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 report on Friday, February 16th. StockNews.com initiated coverage on Cedar Fair in a research note on Saturday, April 13th. They set a “buy” rating for the company. B. Riley reiterated a “buy” rating and set a $52.00 price target (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Truist Financial lifted their price target on Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Oppenheimer assumed coverage on Cedar Fair in a research note on Thursday, February 8th. They set an “outperform” rating and a $49.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cedar Fair has an average rating of “Buy” and a consensus target price of $50.30.

About Cedar Fair

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.