StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the stock.
A number of other research analysts have also recently weighed in on FUN. Stifel Nicolaus raised their price target 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 boosted their price target on Cedar Fair from $52.00 to $54.00 in a report on Friday, January 6th. Rosenblatt Securities increased their price objective on shares of Cedar Fair from $41.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday, February 22nd. Credit Suisse Group boosted their price target on Cedar Fair from $41.00 to $46.00 and gave the company a neutral rating in a research report on Friday, February 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cedar Fair from $54.00 to $61.00 in a report on Friday, February 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $53.13.
Get Cedar Fair alerts:Cedar Fair Price Performance
Shares of NYSE:FUN traded down $0.12 during trading on Thursday, reaching $44.70. The company had a trading volume of 27,830 shares, compared to its average volume of 206,787. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 8.21 and a beta of 1.45. Cedar Fair has a fifty-two week low of $37.58 and a fifty-two week high of $57.49. The stock's fifty day moving average price is $43.96 and its 200 day moving average price is $41.90.
Cedar Fair Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th will be given a $0.30 dividend. The ex-dividend date is Monday, March 6th. This represents a $1.20 annualized dividend and a yield of 2.68%. Cedar Fair's dividend payout ratio (DPR) is 21.98%.
Institutional Investors Weigh In On Cedar Fair
Several large investors have recently modified their holdings of FUN. Thrivent Financial for Lutherans lifted 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 purchasing an additional 261,527 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cedar Fair during the 3rd quarter worth about $235,000. Strs Ohio lifted its stake in 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 acquired a new position in shares of Cedar Fair in the third quarter worth about $391,000. Finally, Jump Financial LLC increased its position in shares of Cedar Fair by 363.2% in the third quarter. Jump Financial LLC now owns 52,800 shares of the company's stock worth $2,173,000 after acquiring an additional 41,400 shares in the last quarter. 67.37% of the stock is owned by institutional investors.
Cedar Fair Company Profile
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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.
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