Cedar Fair (NYSE:FUN) Coverage initiated by analysts at StockNews.com

StockNews.com has begun coverage of the stock Cedar Fair (NYSE:FUN – Free Report) in a report published on Monday. The brokerage has issued a hold rating on the stock.

Several other research analysts have recently commented on the company. Truist Financial cut their price target on Cedar Fair from $62.00 to $60.00 and set a buy rating for the company in a research note on Friday, August 9th. B. Riley cut their price target on shares of Cedar Fair from $77.00 to $65.00 and set a buy rating for the company in a research report on Friday, August 9th. Oppenheimer upped their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. Morgan Stanley upped their price target on shares of Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a research report on Monday, July 1st. Finally, Mizuho cut their price target on shares of Cedar Fair from $55.00 to $52.00 and set an outperform rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Cedar Fair has an average rating of Moderate Buy and an average target price of $58.82.

Read our latest research report on Cedar Fair

Cedar Fair inventories up 1.9%

FUN opened at $45.29 on Monday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 18.64 and a beta of 1.54. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70. The company has a 50-day simple moving average of $49.21 and a 200-day simple moving average of $44.22.

Cedar Fair announces dividend

The firm also recently disclosed a variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were given a dividend of $1.53 per share. The ex-dividend date was Friday, June 28. Cedar Fair’s dividend payout ratio is currently 49.38%.

Hedge funds intervene in the cedar market

A number of hedge funds have recently added to or reduced their stakes in FUN. UBS Group AG raised its position in Cedar Fair by 313.7% in the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after buying an additional 539,352 shares during the last quarter. Torno Capital LLC acquired a new position in shares of Cedar Fair in the second quarter valued at about $4,413,000. Kestra Private Wealth Services LLC bought a new stake in Cedar Fair during the fourth quarter valued at $1,834,000. Finally, HAP Trading LLC bought a new position in Cedar Fair during the first quarter valued at $1,329,000. Institutional investors and hedge funds own 64.65% of the company’s shares.

Cedar Fair Company Profile

(Get a free report)

Cedar Fair, LP owns and operates amusement and water parks and 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 of Charlotte, North Carolina; Kings Dominion located 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 located near Minneapolis/St.

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