Cedar Fair (NYSE:FUN) Price Target Cut to $55.00

Cedar Fair (NYSE:FUN) had its target price cut by The Goldman Sachs Group from $63.00 to $55.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley boosted their target price on Cedar Fair from $55.00 to $65.00 and gave the stock an overweight rating in a research report on Monday, July 1st. B. Riley decreased their target price on shares of Cedar Fair from $77.00 to $65.00 and set a buy rating for the company in a report on Friday, August 9th. Oppenheimer boosted their price target on shares of Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a report on Tuesday, July 2nd. Truist Financial decreased their price objective on shares of Cedar Fair from $62.00 to $60.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, Macquarie cut their target price on shares of Cedar Fair from $64.00 to $60.00 and set an outperform rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Cedar Fair has a consensus rating of Moderate Buy and a consensus target price of $58.82.

Cedar Fair Trading Up 3.2 %

NYSE:FUN opened at $44.13 on Monday. The company has a 50-day moving average of $49.17 and a 200-day moving average of $44.11. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 18.16 and a beta of 1.54.

Cedar Fair Announces Dividend

The business also recently announced a Variable dividend, which was paid on Monday, July 1st. Investors 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 dividend payout ratio (DPR) is currently 49.38%.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Goldman Sachs Group Inc. boosted its holdings in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares during the period. UBS Group AG increased its position in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after acquiring an additional 2,310,565 shares during the period. Brown Advisory Inc. raised its stake in Cedar Fair by 1.1% during the 4th quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after purchasing an additional 1,000 shares during the last quarter. Torno Capital LLC bought a new stake in Cedar Fair in the 2nd quarter valued at $4,413,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Cedar Fair in the 4th quarter worth $1,834,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

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.