Cedar Fair, L.P. (NYSE:FUN) Stake Reduced by Creative Planning

Creative Planning lessened its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 16.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,610 shares of the company’s stock after selling 1,262 shares during the quarter. Creative Planning’s holdings in Cedar Fair were worth $359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Torno Capital LLC bought a new stake in shares of Cedar Fair in the 2nd quarter valued at approximately $4,413,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after purchasing an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Cedar Fair by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Cedar Fair by 31.1% in the second quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after acquiring an additional 2,804 shares during the period. Finally, Brookstone Capital Management bought a new stake in Cedar Fair in the second quarter valued at $215,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FUN. Mizuho lowered their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Morgan Stanley lifted their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 1st. JPMorgan Chase & Co. cut their target price on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. B. Riley lowered their price target on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Macquarie decreased their target price on Cedar Fair from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.33.

Cedar Fair Stock Up 1.1 %

Cedar Fair stock opened at $39.64 on Thursday. Cedar Fair, L.P. has a 52 week low of $34.04 and a 52 week high of $58.70. The business has a 50-day simple moving average of $41.44 and a 200 day simple moving average of $44.01. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 16.31 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The company had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. On average, research analysts anticipate that Cedar Fair, L.P. will post 2.08 earnings per share for the current year.

About Cedar Fair

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.