Cedar Fair, L.P. (NYSE:FUN) Stock Holdings Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Cedar Fair, L.P. (NYSE:FUN) by 26.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,688 shares of the company’s stock after acquiring an additional 1,620 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cedar Fair were worth $418,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after purchasing an additional 539,352 shares in the last quarter. UBS Group AG grew its position in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after purchasing an additional 2,310,565 shares in the last quarter. Brown Advisory Inc. grew its position in Cedar Fair by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after purchasing an additional 1,000 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in Cedar Fair during the fourth quarter valued at approximately $1,834,000. Finally, HAP Trading LLC purchased a new position in Cedar Fair during the first quarter valued at approximately $1,329,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FUN has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Cedar Fair from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Macquarie decreased their target price on shares of Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. StockNews.com started coverage on shares of Cedar Fair in a research report on Monday, August 19th. They issued a “hold” rating for the company. Oppenheimer boosted their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Cedar Fair from $63.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Cedar Fair currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.82.

Cedar Fair Price Performance

NYSE:FUN opened at $44.53 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of 18.33 and a beta of 1.54. Cedar Fair, L.P. has a one year low of $34.04 and a one year high of $58.70. The company has a fifty day moving average price of $49.07 and a 200 day moving average price of $44.30.

Cedar Fair Announces Dividend

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

Cedar Fair 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.