Cedar Fair, L.P. (NYSE:FUN) Short Interest Up 19.6% in March

Cedar Fair, L.P. (NYSE:FUN) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 9,140,000 shares, an increase of 19.6% from the March 15th total of 7,640,000 shares. Currently, 9.3% of the shares of the stock are sold short. Based on an average trading volume of 1,590,000 shares, the days-to-cover ratio is currently 5.7 days.

Cedar Fair Stock Performance

Shares of FUN stock opened at $33.36 on Monday. Cedar Fair has a 12 month low of $28.02 and a 12 month high of $58.70. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The company has a market cap of $3.35 billion, a P/E ratio of -52.12 and a beta of 1.21. The firm has a fifty day moving average price of $37.78 and a 200 day moving average price of $42.24.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FUN. Truist Financial cut their price target on shares of Cedar Fair from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Jefferies Financial Group cut their target price on Cedar Fair from $58.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. UBS Group assumed coverage on Cedar Fair in a research report on Wednesday, April 9th. They set a “buy” rating and a $49.00 price target for the company. Barclays started coverage on shares of Cedar Fair in a research report on Friday, March 14th. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, Guggenheim dropped their target price on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.87.

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.