Carnegie Capital Asset Management LLC Raises Holdings in Cedar Fair, L.P. (NYSE:FUN)

Carnegie Capital Asset Management LLC boosted its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 10.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,546 shares of the company’s stock after acquiring an additional 1,033 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Cedar Fair were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new stake in Cedar Fair during the 4th quarter valued at about $463,000. Saxon Interests Inc. purchased a new stake in Cedar Fair in the 4th quarter worth approximately $308,000. Sound Income Strategies LLC lifted its holdings in Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after buying an additional 852 shares during the period. Aurora Investment Counsel purchased a new stake in Cedar Fair in the 3rd quarter worth approximately $2,142,000. Finally, Impala Asset Management LLC lifted its holdings in Cedar Fair by 21.9% in the 3rd quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock worth $14,024,000 after buying an additional 68,150 shares during the period. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FUN shares. Stifel Nicolaus increased their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com began coverage on Cedar Fair in a research note on Saturday, April 13th. They issued a “buy” rating for the company. B. Riley restated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Oppenheimer began coverage on Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 target price for the company. Finally, KeyCorp raised their target price on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $50.30.

Cedar Fair Stock Down 1.7 %

FUN stock opened at $38.74 on Thursday. Cedar Fair, L.P. has a twelve month low of $34.04 and a twelve month high of $45.39. The firm has a market cap of $1.98 billion, a PE ratio of 15.81 and a beta of 1.41. The business has a 50 day moving average of $41.37 and a 200 day moving average of $39.32.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data 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). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The company had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million. On average, research analysts expect that Cedar Fair, L.P. will post 3.28 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently announced 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 dividend yield of 3.10%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s payout ratio is 48.98%.

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.