Torno Capital LLC Invests $4.41 Million in Cedar Fair, L.P. (NYSE:FUN)

Torno Capital LLC acquired a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 81,200 shares of the company’s stock, valued at approximately $4,413,000. Cedar Fair accounts for about 0.2% of Torno Capital LLC’s investment portfolio, making the stock its 15th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after buying an additional 1,400 shares during the last quarter. Brookstone Capital Management bought a new stake in Cedar Fair in the second quarter valued at $215,000. Finally, Thrive Wealth Management LLC bought a new stake in Cedar Fair in the second quarter valued at $252,000. 64.65% of the stock is currently owned by institutional investors.

Cedar Fair Trading Down 0.4 %

Shares of NYSE FUN opened at $41.31 on Tuesday. Cedar Fair, L.P. has a one year low of $34.04 and a one year high of $58.70. The firm has a market capitalization of $2.12 billion, a PE ratio of 17.00 and a beta of 1.55. The business has a 50-day moving average price of $44.48 and a two-hundred day moving average price of $44.43.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The business had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Research analysts anticipate that Cedar Fair, L.P. will post 2.78 EPS for the current year.

Analyst Ratings Changes

FUN has been the topic of a number of recent research reports. StockNews.com initiated coverage on Cedar Fair in a research note on Wednesday, September 4th. They issued a “hold” rating on the stock. Stifel Nicolaus cut their target price on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. The Goldman Sachs Group lowered their price target on Cedar Fair from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Citigroup lowered their price target on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.91.

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.