Cedar Fair (NYSE:FUN) Reaches New 12-Month High at $57.19

Shares of Cedar Fair, L.P. (NYSE:FUNGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $57.19 and last traded at $56.96, with a volume of 254731 shares trading hands. The stock had previously closed at $56.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FUN shares. Truist Financial raised their target price on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Oppenheimer upped their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. StockNews.com began coverage on Cedar Fair in a research note on Tuesday, July 2nd. They issued a “hold” rating on the stock. Morgan Stanley upped their price target on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. Finally, Mizuho cut their price objective on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.90.

View Our Latest Stock Analysis on FUN

Cedar Fair Stock Up 1.6 %

The company has a market capitalization of $2.95 billion, a P/E ratio of 23.72 and a beta of 1.53. The company has a 50-day moving average of $45.88 and a two-hundred day moving average of $42.28.

Cedar Fair (NYSE:FUNGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. As a group, equities analysts expect that Cedar Fair, L.P. will post 3.41 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently announced a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were paid a dividend of $1.53 per share. The ex-dividend date was Friday, June 28th. Cedar Fair’s dividend payout ratio is 49.38%.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently made changes to their positions in the business. UBS Group AG increased its position in Cedar Fair by 313.7% during the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares in the last quarter. Aurora Investment Counsel purchased a new stake in Cedar Fair during the 3rd quarter valued at about $2,142,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Cedar Fair during the 4th quarter valued at about $1,834,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

About Cedar Fair

(Get Free Report)

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.

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