Commonwealth Equity Services LLC Boosts Stock Holdings in Cedar Fair, L.P. (NYSE:FUN)

Commonwealth Equity Services LLC raised its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,806 shares of the company’s stock after buying an additional 826 shares during the period. Commonwealth Equity Services LLC’s holdings in Cedar Fair were worth $1,022,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FUN. Aurora Investment Counsel grew its stake in shares of Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after buying an additional 253 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares in the last quarter. Cetera Advisors LLC grew its holdings in Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after purchasing an additional 675 shares in the last quarter. Brown Advisory Inc. boosted its position in Cedar Fair by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after buying an additional 1,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cedar Fair by 26.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after acquiring an additional 1,620 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair Stock Down 0.7 %

Shares of NYSE FUN opened at $40.61 on Tuesday. The stock has a market cap of $2.08 billion, a P/E ratio of 16.71 and a beta of 1.55. The firm’s 50-day simple moving average is $45.97 and its 200 day simple moving average is $44.47. Cedar Fair, L.P. has a fifty-two week low of $34.04 and a fifty-two week high of $58.70.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. On average, sell-side analysts anticipate that Cedar Fair, L.P. will post 2.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FUN. StockNews.com assumed coverage on Cedar Fair in a research report on Wednesday, September 4th. They issued a “hold” rating on the stock. The Goldman Sachs Group cut their target price on shares of Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Mizuho cut their price objective on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Truist Financial lowered their price target on Cedar Fair from $62.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Oppenheimer boosted their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.18.

Cedar Fair 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.