Sequoia Financial Advisors LLC lessened its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,671 shares of the company’s stock after selling 2,301 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cedar Fair were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its stake in Cedar Fair by 22.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,384 shares of the company’s stock worth $161,000 after purchasing an additional 624 shares during the last quarter. Personal Wealth Partners acquired a new position in shares of Cedar Fair during the 2nd quarter valued at about $27,000. Janney Montgomery Scott LLC boosted its position in shares of Cedar Fair by 19.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,366 shares of the company’s stock valued at $637,000 after acquiring an additional 2,150 shares during the last quarter. Optimum Investment Advisors boosted its position in shares of Cedar Fair by 10.8% during the 2nd quarter. Optimum Investment Advisors now owns 2,049 shares of the company’s stock valued at $98,000 after acquiring an additional 200 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Cedar Fair by 9.4% during the 2nd quarter. Creative Planning now owns 6,521 shares of the company’s stock valued at $311,000 after acquiring an additional 558 shares during the last quarter. 51.60% of the stock is currently owned by institutional investors.

Shares of FUN stock traded up $0.28 on Tuesday, hitting $52.34. 3,924 shares of the stock traded hands, compared to its average volume of 324,176. The company’s 50-day moving average price is $49.68. The company has a quick ratio of 0.49, a current ratio of 0.63 and a debt-to-equity ratio of 51.13. The company has a market capitalization of $2.96 billion, a PE ratio of 17.35, a PEG ratio of 2.27 and a beta of 0.51. Cedar Fair, L.P. has a twelve month low of $45.58 and a twelve month high of $56.58.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.25. The firm had revenue of $436.19 million for the quarter, compared to analysts’ expectations of $410.86 million. Cedar Fair had a net margin of 12.03% and a return on equity of 4,170.80%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, equities research analysts expect that Cedar Fair, L.P. will post 3.31 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th will be given a $0.925 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 7.07%. Cedar Fair’s payout ratio is currently 122.52%.

Several research analysts have recently weighed in on FUN shares. ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Zacks Investment Research raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, B. Riley set a $60.00 price target on shares of Cedar Fair and gave the company a “buy” rating in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $57.75.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.

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Institutional Ownership by Quarter for Cedar Fair (NYSE:FUN)

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