Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.00.

FUN has been the topic of a number of recent analyst reports. Macquarie decreased their price target on Cedar Fair from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. The Goldman Sachs Group reduced their target price on Cedar Fair from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, July 24th. KeyCorp reduced their target price on Cedar Fair from $54.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Citigroup raised Cedar Fair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a report on Friday, November 3rd. Finally, Truist Financial reduced their target price on Cedar Fair from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th.

Cedar Fair Stock Performance

NYSE FUN opened at $38.85 on Tuesday. The business’s fifty day moving average is $37.31 and its 200 day moving average is $39.48. The company has a market capitalization of $1.98 billion, a PE ratio of 13.35 and a beta of 1.45. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $47.95.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, December 5th. Cedar Fair’s dividend payout ratio (DPR) is 41.24%.

Hedge Funds Weigh In On Cedar Fair

Large investors have recently bought and sold shares of the business. Money Concepts Capital Corp purchased a new stake in shares of Cedar Fair during the 4th quarter valued at $26,000. Tower Research Capital LLC TRC lifted its holdings 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 valued at $38,000 after purchasing an additional 636 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of Cedar Fair during the 1st quarter valued at $41,000. CENTRAL TRUST Co purchased a new stake in shares of Cedar Fair during the 2nd quarter valued at $46,000. Finally, Ancora Advisors LLC lifted its holdings 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 valued at $106,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 61.81% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.