Cedar Fair, L.P. (NYSE:FUN) Stock Holdings Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in Cedar Fair, L.P. (NYSE:FUN) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,300 shares of the company’s stock after purchasing an additional 300 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cedar Fair were worth $131,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares during the period. Saxon Interests Inc. acquired a new stake in Cedar Fair in the fourth quarter worth approximately $308,000. Carnegie Capital Asset Management LLC raised its stake in shares of Cedar Fair by 10.9% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 10,546 shares of the company’s stock worth $420,000 after buying an additional 1,033 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Cedar Fair during the fourth quarter worth about $463,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FUN shares. B. Riley raised their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Oppenheimer boosted their target price on Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com initiated coverage on Cedar Fair in a research report on Tuesday. They issued a “hold” rating for the company. Truist Financial boosted their price objective on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Morgan Stanley raised their target price on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.90.

Cedar Fair Stock Performance

Cedar Fair stock opened at $56.75 on Friday. Cedar Fair, L.P. has a twelve month low of $34.04 and a twelve month high of $57.00. The firm has a market cap of $2.91 billion, a PE ratio of 23.35 and a beta of 1.53. The firm’s 50 day moving average price is $45.50 and its two-hundred day moving average price is $42.12.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The company had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. Equities analysts anticipate that Cedar Fair, L.P. will post 3.33 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The company also recently declared a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were issued a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s dividend payout ratio is 49.38%.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.