Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group cut their price objective on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. B. Riley cut their price objective on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. began coverage on shares of Cedar Fair in a research report on Tuesday, August 6th. They issued an “underweight” rating and a $50.00 price objective on the stock. Mizuho lowered their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer lifted their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.82.

Cedar Fair Stock Performance

Shares of FUN opened at $43.62 on Tuesday. The company’s fifty day moving average is $48.98 and its 200 day moving average is $44.33. The stock has a market capitalization of $2.24 billion, a PE ratio of 17.95 and a beta of 1.54. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70.

Institutional Investors Weigh In On Cedar Fair

A number of large investors have recently modified their holdings of the business. Kestra Private Wealth Services LLC acquired a new position in shares of Cedar Fair during the 4th quarter valued at about $1,834,000. Jump Financial LLC purchased a new position in Cedar Fair in the fourth quarter valued at approximately $617,000. Brown Advisory Inc. increased its stake in Cedar Fair by 1.1% in 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 during the last quarter. UBS Group AG increased its stake in Cedar Fair by 313.7% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.