Citigroup Inc. Has $25.63 Million Stock Holdings in Cedar Fair, L.P. (NYSE:FUN)

Citigroup Inc. lessened its stake in Cedar Fair, L.P. (NYSE:FUN) by 50.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 571,732 shares of the company’s stock after selling 579,477 shares during the quarter. Citigroup Inc. owned 1.01% of Cedar Fair worth $25,631,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its position in Cedar Fair by 11.8% in the first quarter. Captrust Financial Advisors now owns 8,536 shares of the company’s stock worth $424,000 after acquiring an additional 904 shares in the last quarter. Invst LLC grew its position in Cedar Fair by 28.0% in the second quarter. Invst LLC now owns 11,417 shares of the company’s stock worth $489,000 after acquiring an additional 2,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Cedar Fair in the first quarter worth approximately $629,000. Bank of Montreal Can bought a new stake in Cedar Fair in the first quarter worth approximately $42,170,000. Finally, Thunderbird Partners LLP bought a new stake in Cedar Fair in the first quarter worth approximately $23,596,000. Hedge funds and other institutional investors own 57.90% of the company’s stock.

Several analysts recently issued reports on the stock. Credit Suisse Group upped their price objective on shares of Cedar Fair from $69.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Zacks Investment Research raised shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, August 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cedar Fair currently has an average rating of “Buy” and an average target price of $57.13.

Shares of Cedar Fair stock opened at $44.69 on Friday. The stock has a market capitalization of $2.54 billion, a P/E ratio of -6.15 and a beta of 2.30. The company has a 50-day simple moving average of $43.68 and a 200 day simple moving average of $46.33. Cedar Fair, L.P. has a 12-month low of $24.48 and a 12-month high of $52.50.

Cedar Fair (NYSE:FUN) last announced its earnings results on Wednesday, August 4th. The company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.41. The firm had revenue of $244.00 million for the quarter, compared to analyst estimates of $211.79 million. The company’s revenue for the quarter was up 3597.0% compared to the same quarter last year. During the same quarter last year, the business earned ($2.35) EPS. On average, equities analysts predict that Cedar Fair, L.P. will post -1.6 EPS for the current year.

About Cedar Fair

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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

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