According to information made available by Bloomberg, the ten investment banks and brokerages currently covering Cedar Fair, L.P. (NYSE: FUN) have given the stock a collective rating of “Moderate Buy.” While there are only two research analysts who recommend keeping the stock in one’s portfolio, there are three research analysts who recommend buying the stock.
The $53.13 was arrived at as the average price estimate for the company over the next 12 months by brokerages over the past year, which has increased the amount of coverage they provide.
When trading started on Thursday, the share price of the FUN stock was established at $44.75 per share.
The business’s market capitalization is $2.32 billion, the price-to-earnings ratio is 8.20, and the beta value is 1.45.
During the previous year, admission to Cedar Fair ranged from $37.58 to $57.49 at its most expensive. Over the last 50 days, the moving average for the company has been $43.85; over the last 200 days, it has been $41.86.
Regarding FUN, many research papers have been written over the years.
Deutsche Bank Aktiengesellschaft stated in a research report published on Friday, February 17, that they were increasing their price objective on Cedar Fair shares from $54.00 to $61.00 and that this increase was effective immediately. Cedar Fair received an improvement in its rating from “neutral” to “neutral” from Credit Suisse Group in a research note that was published on Friday, February 17.
Additionally, the company increased its price target, moving it up from $40.00 to $41.00.
Truist Financial disclosed in a report made available to the public on Friday, January 6, that they had increased their price objective on Cedar Fair stock from $52.00 to $54.00.
The first story that StockNews.com covered on Thursday was about the shares of Cedar Fair, which was the story’s subject.
They suggested purchasing the company’s stock as an investment.
In a research report released on Monday, January 9, Citigroup finally gave Cedar Fair a “buy” rating, up from a “hold” recommendation, and raised their price target on the company from $47.00 to $49.00.
Additionally, they raised their price target on the stock to reflect the new rating.
The company has also not too long ago declared a quarterly dividend, and the date of March 21 has been set for the distribution of said dividend.
The dividend payment has been set at $0.30 per share, and it will be distributed on Tuesday, March 7, to shareholders who have their record date on Tuesday.
The date that is scheduled to be used for the distribution of dividends is Monday, March 6.
This results in the investment producing a yield of 2.68% and an annual dividend payment of $1.20.
At the moment, 21.98% of Cedar Fair’s earnings are paid out in the form of dividends to shareholders.
How certain hedge funds and other types of institutional investors currently have their money invested in FUN has undergone recent revisions.
Lakewood Asset Management LLC acquired a new holding in Cedar Fair during the fourth quarter for a purchase price of approximately $28,000.
The percentage of Cedar Fair shares that Natixis owned at the end of the year increased by Natixis by a factor of 100.0%.
After purchasing 1,535,800 additional shares during the most recent quarter, Natixis now possesses 3,071,600 shares of the company’s stock, valued at $126,980,000.
This brings the total number of shares owned by Natixis to 3,071,600.
During the final three months of 2018, Northwestern Mutual Wealth Management Company completed a 48.4% increase in Cedar Fair stock in its portfolio.
After making an additional 1,463 share purchase during the most recent quarter, Northwestern Mutual Wealth Management Co now has 4,488 shares. Currently, the market price for each of these shares equals $186,000, which brings the total value of the company’s stock to $186,000.
The acquisition of a new investment in Cedar Fair required CI Private Wealth LLC to make a total expenditure of $690,000 during the period ending in the fourth quarter.
During the final stage of this process, Sonic GP LLC invested $6,201,00 in a new holding it had in Cedar Fair during the quarter ending in December. Shares of the company are currently held by hedge funds and other types of institutional investors, who collectively account for 67.37% of the total.
Cedar Fair L.P.
Is responsible for the operation of a wide range of businesses, some of which include hotels, water parks (both indoor and outdoor), and theme parks.
Its theme parks include Knott’s Berry Farm, California’s Great America, Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park & Wildwater Kingdom, Valleyfair, Kings Dominion, and Worlds of Fun. Other parks in its portfolio include Canada’s Wonderland, Dorney Park & Wildwater Kingdom, and Disney’s Animal Kingdom. Other amusement parks worth visiting include Valleyfair, Canada’s Wonderland, and Dorney Park & Wildwater Kingdom.