Schulhoff & Co. Inc. increased its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,245 shares of the company’s stock after buying an additional 150 shares during the period. Cedar Fair, L.P. accounts for approximately 1.2% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 22nd largest position. Schulhoff & Co. Inc.’s holdings in Cedar Fair, L.P. were worth $1,892,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in Cedar Fair, L.P. by 57.0% in the first quarter. FMR LLC now owns 2,841,330 shares of the company’s stock worth $192,671,000 after buying an additional 1,031,160 shares in the last quarter. OppenheimerFunds Inc. raised its position in Cedar Fair, L.P. by 8.5% in the first quarter. OppenheimerFunds Inc. now owns 2,140,592 shares of the company’s stock worth $145,153,000 after buying an additional 166,891 shares in the last quarter. Janus Capital Management LLC raised its position in Cedar Fair, L.P. by 4.4% in the first quarter. Janus Capital Management LLC now owns 625,955 shares of the company’s stock worth $42,446,000 after buying an additional 26,315 shares in the last quarter. Morgan Stanley raised its position in Cedar Fair, L.P. by 3.9% in the first quarter. Morgan Stanley now owns 596,939 shares of the company’s stock worth $40,478,000 after buying an additional 22,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Cedar Fair, L.P. by 10.4% in the first quarter. Goldman Sachs Group Inc. now owns 434,254 shares of the company’s stock worth $29,447,000 after buying an additional 40,800 shares in the last quarter. Institutional investors and hedge funds own 51.20% of the company’s stock.
Cedar Fair, L.P. (NYSE FUN) traded up 1.06% on Friday, reaching $67.81. 74,163 shares of the company’s stock traded hands. The firm has a market capitalization of $3.81 billion, a PE ratio of 28.44 and a beta of 0.50. The firm’s 50 day moving average price is $67.95 and its 200 day moving average price is $68.87. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.02 by $0.20. The company had revenue of $392.80 million for the quarter, compared to analyst estimates of $405.78 million. During the same quarter in the previous year, the company posted $1.03 EPS. Cedar Fair, L.P.’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts predict that Cedar Fair, L.P. will post $3.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be given a dividend of $0.855 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 annualized dividend and a yield of 5.04%. Cedar Fair, L.P.’s dividend payout ratio is presently 144.30%.
A number of research analysts recently commented on FUN shares. Zacks Investment Research lowered shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub upgraded shares of Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Stifel Nicolaus restated a “buy” rating and issued a $78.00 price target on shares of Cedar Fair, L.P. in a research report on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $74.75.
In other Cedar Fair, L.P. news, Director Thomas Klein bought 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $66.13 per share, for a total transaction of $462,910.00. Following the transaction, the director now directly owns 24,960 shares in the company, valued at $1,650,604.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew A. Ouimet sold 3,000 shares of Cedar Fair, L.P. stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $66.80, for a total transaction of $200,400.00. Following the sale, the chief executive officer now owns 195,199 shares in the company, valued at $13,039,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,100 shares of company stock worth $1,681,699. 2.00% of the stock is owned by corporate insiders.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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