Short Interest in Cedar Fair, L.P. (NYSE:FUN) Decreases By 7.3%

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 6,360,000 shares, a drop of 7.3% from the January 15th total of 6,860,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 5.1 days.

Institutional Investors Weigh In On Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. S.A. Mason LLC grew its stake in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 63.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 993 shares of the company's stock after purchasing an additional 384 shares during the period. S.A. Mason LLC's holdings in Cedar Fair were worth $40,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 64.65% of the company's stock.

Analysts Set New Price Targets

FUN has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Cedar Fair in a report on Monday, December 9th. They set a "buy" rating and a $59.00 price objective on the stock. StockNews.com cut shares of Cedar Fair from a "hold" rating to a "sell" rating in a report on Friday. Guggenheim lifted their target price on shares of Cedar Fair from $52.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Citigroup lifted their target price on shares of Cedar Fair from $53.00 to $57.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.54.

Cedar Fair Stock Performance

NYSE:FUN traded down $1.31 during midday trading on Friday, reaching $45.13. The stock had a trading volume of 988,133 shares, compared to its average volume of 1,075,713. The firm has a fifty day simple moving average of $45.99 and a two-hundred day simple moving average of $43.93. Cedar Fair has a 12-month low of $35.93 and a 12-month high of $58.70. 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 market cap of $4.53 billion, a P/E ratio of -70.51 and a beta of 1.55.

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.