Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

A number of other research analysts have also recently issued reports on FUN. JPMorgan Chase & Co. started coverage on Cedar Fair in a report on Tuesday, August 6th. They set an “underweight” rating and a $50.00 price objective for the company. Mizuho cut their price objective on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Oppenheimer lifted their price objective on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Stifel Nicolaus cut their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, B. Riley cut their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.82.

Cedar Fair Price Performance

Shares of FUN stock opened at $43.87 on Tuesday. The stock has a market cap of $2.25 billion, a P/E ratio of 18.05 and a beta of 1.54. Cedar Fair has a one year low of $34.04 and a one year high of $58.70. The stock has a fifty day moving average price of $48.65 and a 200 day moving average price of $44.34.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aurora Investment Counsel increased its position in Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after purchasing an additional 253 shares during the period. PNC Financial Services Group Inc. increased its position in Cedar Fair by 10.0% in 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 position in Cedar Fair by 201.4% in 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 position in Cedar Fair by 10.9% in 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, Commonwealth Equity Services LLC increased its position in Cedar Fair by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock worth $1,022,000 after purchasing an additional 826 shares during the period. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.