Oppenheimer & Co. Inc. increased its stake in Cedar Fair, L.P. (NYSE:FUN – Get Rating) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,497 shares of the company's stock after acquiring an additional 250 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Cedar Fair were worth $268,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of Cedar Fair by 32.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,064,224 shares of the company's stock valued at $46,730,000 after buying an additional 261,527 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Cedar Fair during the third quarter valued at $235,000. Strs Ohio grew its holdings in shares of Cedar Fair by 39.5% during the third quarter. Strs Ohio now owns 113,000 shares of the company's stock valued at $4,649,000 after buying an additional 32,000 shares in the last quarter. Schechter Investment Advisors LLC purchased a new position in shares of Cedar Fair during the third quarter valued at $391,000. Finally, Jump Financial LLC grew its holdings in shares of Cedar Fair by 363.2% during the third quarter. Jump Financial LLC now owns 52,800 shares of the company's stock valued at $2,173,000 after buying an additional 41,400 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.
Get Cedar Fair alerts:Cedar Fair Stock Performance
NYSE FUN opened at $46.30 on Monday. Cedar Fair, L.P. has a twelve month low of $37.58 and a twelve month high of $58.63. The stock has a market capitalization of $2.40 billion, a PE ratio of 8.48 and a beta of 1.47. The stock has a 50-day simple moving average of $42.31 and a 200 day simple moving average of $41.66.
Cedar Fair Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Tuesday, March 7th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 2.59%. Cedar Fair's dividend payout ratio is presently 21.98%.
Analyst Upgrades and Downgrades
FUN has been the topic of a number of research analyst reports. Credit Suisse Group lifted their price target on Cedar Fair from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, February 17th. Stifel Nicolaus lifted their price objective on Cedar Fair from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, February 17th. Truist Financial lifted their price objective on Cedar Fair from $52.00 to $54.00 in a research report on Friday, January 6th. Rosenblatt Securities lifted their price objective on Cedar Fair from $41.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 22nd. Finally, StockNews.com raised Cedar Fair from a "hold" rating to a "buy" rating in a research report on Friday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cedar Fair currently has a consensus rating of "Moderate Buy" and an average target price of $53.13.
About Cedar Fair
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Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada's Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott's Berry Farm, and California's Great America.
Further Reading
- Get a free copy of the StockNews.com research report on Cedar Fair (FUN)
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