Cedar Fair (NYSE:FUN) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Cedar Fair, L.P. (NYSE:FUN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $44.43 and traded as high as $46.91. Cedar Fair shares last traded at $45.93, with a volume of 1,202,327 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Cedar Fair from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, October 4th. StockNews.com downgraded Cedar Fair from a "hold" rating to a "sell" rating in a research report on Friday, November 8th. Macquarie reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Cedar Fair in a research report on Thursday, November 7th. B. Riley dropped their price target on shares of Cedar Fair from $77.00 to $65.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, Mizuho decreased their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.69.

Cedar Fair Stock Performance

The stock has a market capitalization of $4.61 billion, a PE ratio of -71.78 and a beta of 1.55. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average of $40.91 and a 200-day moving average of $44.47.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently made changes to their positions in FUN. S.A. Mason LLC raised its holdings in Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company's stock valued at $40,000 after acquiring an additional 384 shares in the last quarter. CWM LLC lifted its position in shares of 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 purchasing an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company's stock worth $157,000 after purchasing an additional 1,400 shares in the last quarter. Brookstone Capital Management purchased a new position in Cedar Fair in the second quarter valued at $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in Cedar Fair in the second quarter valued at $252,000. Hedge funds and other institutional investors own 64.65% of the company's stock.

Cedar Fair Company 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.