Raymond James & Associates Has $1.08 Million Stock Holdings in Cedar Fair, L.P. (NYSE:FUN)

Raymond James & Associates decreased its stake in Cedar Fair, L.P. (NYSE:FUN) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,091 shares of the company’s stock after selling 869 shares during the quarter. Raymond James & Associates’ holdings in Cedar Fair were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new position in Cedar Fair in the 1st quarter worth approximately $41,000. Money Concepts Capital Corp acquired a new stake in shares of Cedar Fair in the fourth quarter worth $26,000. Tower Research Capital LLC TRC boosted its position in shares of Cedar Fair by 355.3% in the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after buying an additional 636 shares during the period. Ancora Advisors LLC grew its holdings in shares of Cedar Fair by 34.6% during the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after buying an additional 550 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC raised its position in Cedar Fair by 33.9% during the third quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock valued at $110,000 after buying an additional 680 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Trading Down 1.0 %

FUN stock opened at $38.08 on Monday. The firm has a market cap of $1.94 billion, a PE ratio of 15.54 and a beta of 1.41. Cedar Fair, L.P. has a 1 year low of $34.04 and a 1 year high of $45.39. The company has a fifty day simple moving average of $41.24 and a 200 day simple moving average of $39.36.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share 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 analyst estimates 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, analysts forecast that Cedar Fair, L.P. will post 3.27 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. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.20 annualized dividend and a yield of 3.15%. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Analysts Set New Price Targets

FUN has been the subject of a number of research reports. Oppenheimer assumed coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective for the company. StockNews.com initiated coverage on shares of Cedar Fair in a report on Sunday. They set a “buy” rating for the company. B. Riley reiterated a “buy” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Mizuho began coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price for the company. Finally, Truist Financial upped their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.