Cedar Fair (NYSE:FUN) Downgraded to Sell Rating by StockNews.com

Cedar Fair (NYSE:FUN - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Friday.

A number of other brokerages have also recently weighed in on FUN. Mizuho reduced their price target on shares of Cedar Fair from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus reduced their target price on shares of Cedar Fair from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Oppenheimer cut their price objective on Cedar Fair from $67.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Truist Financial decreased their target price on Cedar Fair from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Finally, Guggenheim assumed coverage on Cedar Fair in a report on Tuesday, October 29th. They set a "buy" rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.

Cedar Fair Stock Performance

Shares of FUN traded down $0.19 during trading hours on Friday, hitting $45.40. The stock had a trading volume of 1,496,992 shares, compared to its average volume of 980,551. The company's fifty day simple moving average is $40.61 and its 200 day simple moving average is $44.12. Cedar Fair has a 12-month low of $35.93 and a 12-month high of $58.70. The firm has a market cap of $4.55 billion, a P/E ratio of 18.38 and a beta of 1.55.

Cedar Fair (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The company had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. As a group, sell-side analysts predict that Cedar Fair will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. S.A. Mason LLC increased its position in shares of Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company's stock worth $40,000 after purchasing an additional 384 shares during the last quarter. CWM LLC lifted its holdings in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company's stock worth $112,000 after buying an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company's stock worth $157,000 after acquiring an additional 1,400 shares in the last quarter. Brookstone Capital Management acquired a new position in Cedar Fair in the second quarter worth $215,000. Finally, Thrive Wealth Management LLC bought a new stake in Cedar Fair during the second quarter valued at $252,000. 64.65% of the stock is currently owned by institutional investors.

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.

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