Cedar Fair, L.P. (FUN) Shares Bought by QS Investors LLC
QS Investors LLC lifted its holdings in Cedar Fair, L.P. (NYSE:FUN) by 31.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,973 shares of the company’s stock after acquiring an additional 13,205 shares during the quarter. QS Investors LLC owned approximately 0.10% of Cedar Fair, L.P. worth $3,964,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC acquired a new position in Cedar Fair, L.P. during the 2nd quarter worth about $31,274,000. Private Advisor Group LLC grew its holdings in Cedar Fair, L.P. by 39.9% during the 2nd quarter. Private Advisor Group LLC now owns 19,174 shares of the company’s stock worth $1,331,000 after acquiring an additional 5,466 shares during the last quarter. Janus Capital Management LLC grew its holdings in Cedar Fair, L.P. by 4.4% during the 1st quarter. Janus Capital Management LLC now owns 625,955 shares of the company’s stock worth $42,446,000 after acquiring an additional 26,315 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in Cedar Fair, L.P. in the 2nd quarter valued at about $144,000. Finally, Brookstone Capital Management increased its position in Cedar Fair, L.P. by 21.4% in the 2nd quarter. Brookstone Capital Management now owns 3,911 shares of the company’s stock valued at $282,000 after acquiring an additional 689 shares in the last quarter. 51.46% of the stock is currently owned by institutional investors and hedge funds.
Cedar Fair, L.P. (NYSE:FUN) opened at 63.89 on Wednesday. The firm has a market capitalization of $3.59 billion, a P/E ratio of 26.80 and a beta of 0.48. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56. The firm’s 50-day moving average is $65.49 and its 200-day moving average is $68.59.
Cedar Fair, L.P. (NYSE:FUN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $392.80 million during the quarter, compared to the consensus estimate of $405.78 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts expect that Cedar Fair, L.P. will post $2.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, September 6th were given a dividend of $0.855 per share. The ex-dividend date was Friday, September 1st. This represents a $3.42 dividend on an annualized basis and a yield of 5.35%. Cedar Fair, L.P.’s dividend payout ratio is currently 144.30%.
FUN has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $81.00 target price on shares of Cedar Fair, L.P. in a research note on Tuesday, July 4th. Stifel Nicolaus reissued a “buy” rating and set a $78.00 price target on shares of Cedar Fair, L.P. in a research note on Friday, July 7th. BidaskClub cut shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, July 12th. Finally, KeyCorp reissued an “overweight” rating and issued a $74.00 price target on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Cedar Fair, L.P. currently has a consensus rating of “Buy” and an average price target of $74.22.
In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the transaction, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Klein bought 7,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $66.13 per share, with a total value of $462,910.00. Following the completion of the transaction, the director now directly owns 24,960 shares of the company’s stock, valued at approximately $1,650,604.80. The disclosure for this purchase can be found here. Insiders have sold a total of 14,100 shares of company stock worth $957,099 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.
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About Cedar Fair, L.P.
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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