Cedar Fair, L.P. (FUN) CAO David R. Hoffman Sells 7,043 Shares
Cedar Fair, L.P. (NYSE:FUN) CAO David R. Hoffman sold 7,043 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $60.63, for a total value of $427,017.09. Following the sale, the chief accounting officer now owns 36,611 shares of the company’s stock, valued at approximately $2,219,724.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Cedar Fair, L.P. (NYSE:FUN) opened at 58.06 on Thursday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 22.26 and a beta of 0.72. Cedar Fair, L.P. has a 1-year low of $48.46 and a 1-year high of $63.40. The stock has a 50 day moving average of $58.78 and a 200-day moving average of $58.94.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $388 million for the quarter, compared to the consensus estimate of $390.43 million. During the same period in the prior year, the business earned $1.02 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cedar Fair, L.P. will post $3.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 5.68%.
Institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P purchased a new position in Cedar Fair, L.P. during the first quarter worth approximately $172,000. BB&T Securities LLC purchased a new position in Cedar Fair, L.P. during the first quarter worth approximately $205,000. Shufro Rose & Co. LLC purchased a new position in Cedar Fair, L.P. during the first quarter worth approximately $218,000. Concert Wealth Management Inc. purchased a new position in Cedar Fair, L.P. during the second quarter worth approximately $216,000. Finally, Huntington National Bank raised its position in Cedar Fair, L.P. by 1.7% in the second quarter. Huntington National Bank now owns 3,745 shares of the company’s stock worth $217,000 after buying an additional 62 shares during the period.
FUN has been the topic of several recent analyst reports. FBR & Co boosted their target price on shares of Cedar Fair, L.P. to $68.00 and gave the company an “outperform” rating in a research note on Monday, July 18th. Credit Suisse Group AG set a $67.00 target price on shares of Cedar Fair, L.P. and gave the company a “buy” rating in a research note on Monday, September 12th. Janney Montgomery Scott reissued a “buy” rating and set a $68.00 target price on shares of Cedar Fair, L.P. in a research note on Thursday, September 1st. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, June 29th. Finally, Macquarie raised shares of Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $65.00 in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.83.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
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