Cedar Fair, L.P. (FUN) CEO Sells $200,400.00 in Stock
Cedar Fair, L.P. (NYSE:FUN) CEO Matthew A. Ouimet sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $66.80, for a total value of $200,400.00. Following the sale, the chief executive officer now directly owns 195,199 shares of the company’s stock, valued at approximately $13,039,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Cedar Fair, L.P. (NYSE:FUN) opened at 67.81 on Monday. The company has a 50-day moving average price of $67.95 and a 200-day moving average price of $68.87. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 28.44 and a beta of 0.50. Cedar Fair, L.P. has a 52 week low of $56.23 and a 52 week high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last released its earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.02 by $0.20. The company had revenue of $392.80 million during the quarter, compared to analysts’ expectations of $405.78 million. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Equities analysts anticipate that Cedar Fair, L.P. will post $3.00 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be issued a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 dividend on an annualized basis and a yield of 5.04%. Cedar Fair, L.P.’s dividend payout ratio (DPR) is presently 144.30%.
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A number of research firms have recently weighed in on FUN. BidaskClub raised Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Cedar Fair, L.P. from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and set a $78.00 price objective on shares of Cedar Fair, L.P. in a research note on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $81.00 price objective on shares of Cedar Fair, L.P. in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tdam USA Inc. raised its position in Cedar Fair, L.P. by 1.8% in the first quarter. Tdam USA Inc. now owns 17,224 shares of the company’s stock worth $1,168,000 after buying an additional 308 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Cedar Fair, L.P. by 15.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,061 shares of the company’s stock worth $208,000 after buying an additional 400 shares during the period. AMG Funds LLC raised its position in Cedar Fair, L.P. by 0.7% in the first quarter. AMG Funds LLC now owns 27,807 shares of the company’s stock worth $1,886,000 after buying an additional 201 shares during the period. US Bancorp DE raised its position in Cedar Fair, L.P. by 10.1% in the first quarter. US Bancorp DE now owns 32,526 shares of the company’s stock worth $2,206,000 after buying an additional 2,985 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in Cedar Fair, L.P. by 2.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 5,947 shares of the company’s stock worth $403,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 51.53% 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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