Cedar Fair, L.P. (NYSE:FUN) Director Eric Affeldt bought 2,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was purchased at an average price of $51.44 per share, with a total value of $102,880.00. Following the transaction, the director now owns 12,200 shares in the company, valued at approximately $627,568. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:FUN opened at $52.42 on Thursday. Cedar Fair, L.P. has a 12-month low of $47.90 and a 12-month high of $70.82. The company has a market cap of $2.95 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.12 and a beta of 0.31. The company has a quick ratio of 0.94, a current ratio of 1.07 and a debt-to-equity ratio of 18.09.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.21 by $0.55. Cedar Fair had a return on equity of 1,656.35% and a net margin of 15.58%. The business had revenue of $663.70 million during the quarter, compared to analyst estimates of $659.45 million. During the same quarter in the previous year, the firm posted $3.38 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that Cedar Fair, L.P. will post 2.79 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Tuesday, December 4th will be given a dividend of $0.925 per share. The ex-dividend date is Monday, December 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 7.06%. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.89. Cedar Fair’s payout ratio is currently 87.90%.

A number of large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its position in Cedar Fair by 61.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,934 shares of the company’s stock worth $153,000 after acquiring an additional 1,116 shares during the period. Edge Wealth Management LLC acquired a new position in Cedar Fair during the 3rd quarter worth $154,000. Columbia Asset Management acquired a new position in Cedar Fair during the 3rd quarter worth $154,000. Pennsylvania Trust Co acquired a new position in Cedar Fair during the 2nd quarter worth $238,000. Finally, Janney Montgomery Scott LLC acquired a new position in Cedar Fair during the 3rd quarter worth $250,000. Institutional investors and hedge funds own 51.37% of the company’s stock.

Several brokerages have recently commented on FUN. Zacks Investment Research lowered Cedar Fair from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. ValuEngine lowered Cedar Fair from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Stifel Nicolaus boosted their price objective on Cedar Fair from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. B. Riley reduced their price objective on Cedar Fair from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Finally, KeyCorp reduced their price objective on Cedar Fair from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.00.

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Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.

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