Sequoia Financial Advisors LLC Buys Shares of 11,643 Cedar Fair, L.P. (NYSE:FUN)

Sequoia Financial Advisors LLC purchased a new position in Cedar Fair, L.P. (NYSE:FUN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,643 shares of the company’s stock, valued at approximately $463,000.

Several other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares during the period. Bank of America Corp DE increased its stake in shares of Cedar Fair by 36.8% in the 1st quarter. Bank of America Corp DE now owns 3,516,915 shares of the company’s stock worth $160,688,000 after purchasing an additional 946,782 shares in the last quarter. Barclays PLC raised its holdings in Cedar Fair by 67.6% in the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares during the period. UBS Group AG lifted its position in Cedar Fair by 112.4% during the first quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock valued at $77,142,000 after purchasing an additional 745,056 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Cedar Fair during the third quarter valued at about $25,215,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair Trading Down 1.7 %

Shares of FUN stock opened at $38.74 on Thursday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 15.81 and a beta of 1.41. Cedar Fair, L.P. has a 12-month low of $34.04 and a 12-month high of $45.39. The stock’s 50-day moving average price is $41.37 and its 200-day moving average price is $39.32.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. As a group, research analysts predict that Cedar Fair, L.P. will post 3.28 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 annualized dividend and a yield of 3.10%. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Wall Street Analysts Forecast Growth

FUN has been the topic of several recent research reports. Mizuho began coverage on Cedar Fair in a research note on Tuesday, March 26th. They issued a “buy” rating and a $56.00 price objective on the stock. StockNews.com started coverage on shares of Cedar Fair in a report on Saturday, April 13th. They set a “buy” rating on the stock. Stifel Nicolaus upped their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. KeyCorp raised their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Truist Financial upped their target price on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $50.30.

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.