Ameritas Advisory Services LLC Purchases 2,804 Shares of Cedar Fair, L.P. (NYSE:FUN)

Ameritas Advisory Services LLC lifted its holdings in Cedar Fair, L.P. (NYSE:FUN) by 31.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,815 shares of the company’s stock after buying an additional 2,804 shares during the period. Ameritas Advisory Services LLC’s holdings in Cedar Fair were worth $642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FUN. Aurora Investment Counsel increased its holdings 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 in the last quarter. PNC Financial Services Group Inc. increased its position in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after buying an additional 300 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after buying an additional 562 shares during the period. Cetera Advisors LLC boosted its holdings 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 acquiring an additional 675 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Cedar Fair by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after acquiring an additional 1,000 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Stock Down 1.5 %

Shares of FUN stock traded down $0.68 on Friday, reaching $43.29. The company’s stock had a trading volume of 399,999 shares, compared to its average volume of 758,775. Cedar Fair, L.P. has a 12-month low of $34.04 and a 12-month high of $58.70. The stock’s 50 day simple moving average is $48.51 and its 200-day simple moving average is $44.34. The company has a market capitalization of $2.22 billion, a P/E ratio of 18.09 and a beta of 1.54.

Cedar Fair Announces Dividend

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

Analyst Ratings Changes

FUN has been the topic of a number of recent research reports. Mizuho cut their target price on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Macquarie dropped their price objective 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. Truist Financial decreased their target price on shares of Cedar Fair from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Oppenheimer raised their price target on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Citigroup lowered their price objective on shares of Cedar Fair from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and an average target price of $58.82.

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.