Cedar Fair (NYSE:FUN) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Cedar Fair, L.P. (NYSE:FUN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.43 and traded as high as $46.91. Cedar Fair shares last traded at $45.93, with a volume of 1,202,327 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on FUN. B. Riley dropped 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. increased their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Guggenheim began coverage on shares of Cedar Fair in a research report on Tuesday, October 29th. They issued a “buy” rating and a $52.00 target price on the stock. The Goldman Sachs Group dropped their target price on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup dropped their target price on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.69.

Cedar Fair Price Performance

The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. The company has a market capitalization of $4.61 billion, a PE ratio of -71.77 and a beta of 1.55. The company’s 50-day simple moving average is $40.91 and its 200-day simple moving average is $44.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FUN. Torno Capital LLC acquired a new stake in shares of Cedar Fair in the 2nd quarter worth $4,413,000. HAP Trading LLC acquired a new stake in shares of Cedar Fair in the 1st quarter worth $1,329,000. Commonwealth Equity Services LLC lifted its stake in shares of Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after acquiring an additional 826 shares during the period. Aurora Investment Counsel lifted its stake in shares of Cedar Fair by 1.7% in the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after acquiring an additional 253 shares during the period. Finally, Ameritas Advisory Services LLC lifted its stake in shares of Cedar Fair by 31.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock worth $642,000 after acquiring an additional 2,804 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.