Cedar Fair (NYSE:FUN) Stock Price Down 6.3% - Should You Sell?

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) fell 6.3% on Tuesday . The company traded as low as $36.17 and last traded at $36.42. 189,642 shares changed hands during trading, a decline of 84% from the average session volume of 1,203,848 shares. The stock had previously closed at $38.88.

Wall Street Analyst Weigh In

FUN has been the topic of a number of recent research reports. Mizuho lowered their target price on Cedar Fair from $54.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday. StockNews.com lowered Cedar Fair from a "hold" rating to a "sell" rating in a research report on Thursday, March 6th. Guggenheim cut their target price on shares of Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Truist Financial increased their price target on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. Finally, Barclays started coverage on shares of Cedar Fair in a report on Friday, March 14th. They issued an "overweight" rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.86.

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Cedar Fair Trading Up 0.9 %

The company has a 50 day simple moving average of $42.67 and a 200 day simple moving average of $43.34. The company has a market capitalization of $3.76 billion, a PE ratio of -58.52 and a beta of 1.54. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new stake in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,459 shares of the company's stock, valued at approximately $260,000. 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.