Anchor Capital Advisors LLC Holds Stake in Cedar Fair, L.P. (NYSE:FUN)
Anchor Capital Advisors LLC maintained its position in Cedar Fair, L.P. (NYSE:FUN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the company’s stock at the end of the second quarter. Anchor Capital Advisors LLC’s holdings in Cedar Fair, L.P. were worth $216,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Cedar Fair, L.P. by 57.0% in the first quarter. FMR LLC now owns 2,841,330 shares of the company’s stock worth $192,671,000 after buying an additional 1,031,160 shares in the last quarter. OppenheimerFunds Inc. increased its position in Cedar Fair, L.P. by 8.5% in the first quarter. OppenheimerFunds Inc. now owns 2,140,592 shares of the company’s stock worth $145,153,000 after buying an additional 166,891 shares in the last quarter. Janus Capital Management LLC increased its position in Cedar Fair, L.P. by 4.4% in the first quarter. Janus Capital Management LLC now owns 625,955 shares of the company’s stock worth $42,446,000 after buying an additional 26,315 shares in the last quarter. River Road Asset Management LLC increased its position in Cedar Fair, L.P. by 8.3% in the first quarter. River Road Asset Management LLC now owns 602,213 shares of the company’s stock worth $40,836,000 after buying an additional 45,983 shares in the last quarter. Finally, Morgan Stanley increased its position in Cedar Fair, L.P. by 3.9% in the first quarter. Morgan Stanley now owns 596,939 shares of the company’s stock worth $40,478,000 after buying an additional 22,243 shares in the last quarter. 51.20% of the stock is currently owned by institutional investors.
Shares of Cedar Fair, L.P. (NYSE:FUN) traded up 0.08% during mid-day trading on Friday, hitting $66.40. The company had a trading volume of 83,153 shares. The firm has a market cap of $3.73 billion, a PE ratio of 27.85 and a beta of 0.50. Cedar Fair, L.P. has a 12-month low of $56.23 and a 12-month high of $72.56. The firm’s 50 day moving average is $68.51 and its 200-day moving average is $68.72.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by $0.20. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company had revenue of $392.80 million during the quarter, compared to the consensus estimate of $405.78 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that Cedar Fair, L.P. will post $3.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be paid a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 annualized dividend and a dividend yield of 5.15%. Cedar Fair, L.P.’s dividend payout ratio is currently 144.30%.
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FUN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub raised Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $78.00 target price on shares of Cedar Fair, L.P. in a report on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $81.00 target price on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Cedar Fair, L.P. presently has an average rating of “Buy” and a consensus target price of $74.75.
In related news, Director Thomas Klein acquired 7,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $66.13 per share, for a total transaction of $462,910.00. Following the purchase, the director now owns 24,960 shares in the company, valued at approximately $1,650,604.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew A. Ouimet sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $71.20, for a total value of $854,400.00. Following the completion of the sale, the chief executive officer now owns 207,299 shares in the company, valued at $14,759,688.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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