Marcum Wealth LLC Has $703,000 Stock Holdings in Cedar Fair, L.P. (NYSE:FUN)

Marcum Wealth LLC cut its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 30.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,935 shares of the company’s stock after selling 5,773 shares during the period. Marcum Wealth LLC’s holdings in Cedar Fair were worth $703,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Aurora Investment Counsel lifted its position in shares of Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after buying an additional 253 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares during the period. Cetera Advisors LLC increased its stake in shares of Cedar Fair by 10.9% during the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Cedar Fair by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock worth $3,761,000 after purchasing an additional 1,000 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Mizuho lowered their price objective on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Truist Financial started coverage on Cedar Fair in a research note on Tuesday, July 9th. They issued a “buy” rating and a $62.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target (up previously from $53.00) on shares of Cedar Fair in a research note on Friday, July 12th. Macquarie started coverage on Cedar Fair in a report on Thursday, July 18th. They set an “outperform” rating and a $64.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $63.00 target price on shares of Cedar Fair in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.10.

Cedar Fair Stock Down 1.0 %

Cedar Fair stock traded down $0.43 during trading on Monday, hitting $43.61. The stock had a trading volume of 2,984,470 shares, compared to its average volume of 631,721. Cedar Fair, L.P. has a 1 year low of $34.04 and a 1 year high of $58.70. The stock’s 50 day moving average is $49.09 and its two-hundred day moving average is $43.95. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 17.95 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The company had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. As a group, equities research analysts anticipate that Cedar Fair, L.P. will post 3.63 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The company also recently declared a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were issued a $1.53 dividend. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is currently 49.38%.

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.