Thomas Klein Acquires 7,000 Shares of Cedar Fair, L.P. (FUN) Stock

Cedar Fair, L.P. (NYSE:FUN) Director Thomas Klein purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $66.13 per share, for a total transaction of $462,910.00. Following the transaction, the director now directly owns 24,960 shares in the company, valued at $1,650,604.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cedar Fair, L.P. (NYSE FUN) opened at 64.38 on Friday. The firm has a market cap of $3.62 billion, a PE ratio of 27.01 and a beta of 0.50. The firm’s 50-day moving average price is $69.15 and its 200 day moving average price is $68.62. Cedar Fair, L.P. has a 52-week low of $56.23 and a 52-week high of $72.56.

Cedar Fair, L.P. (NYSE:FUN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.02 by $0.20. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business had revenue of $392.80 million during the quarter, compared to the consensus estimate of $405.78 million. During the same period in the prior year, the business earned $1.03 EPS. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Cedar Fair, L.P. will post $3.00 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th will be paid a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 annualized dividend and a dividend yield of 5.31%. Cedar Fair, L.P.’s payout ratio is currently 144.30%.

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Several large investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Cedar Fair, L.P. by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,065 shares of the company’s stock valued at $509,000 after buying an additional 19 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Cedar Fair, L.P. by 0.7% in the second quarter. Capital Advisors Ltd. LLC now owns 3,084 shares of the company’s stock valued at $222,000 after buying an additional 21 shares during the last quarter. MAI Capital Management raised its stake in shares of Cedar Fair, L.P. by 0.5% in the second quarter. MAI Capital Management now owns 4,670 shares of the company’s stock valued at $337,000 after buying an additional 23 shares during the last quarter. Dynamic Advisors Solutions LLC raised its stake in shares of Cedar Fair, L.P. by 1.2% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,458 shares of the company’s stock valued at $235,000 after buying an additional 42 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Cedar Fair, L.P. by 0.5% in the second quarter. Private Trust Co. NA now owns 10,048 shares of the company’s stock valued at $724,000 after buying an additional 50 shares during the last quarter. Institutional investors own 51.77% of the company’s stock.

FUN has been the topic of several recent research reports. Zacks Investment Research cut Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus initiated coverage on Cedar Fair, L.P. in a research report on Thursday, April 20th. They issued a “buy” rating and a $78.00 price target on the stock. BidaskClub cut Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.75.

Cedar Fair, L.P. Company Profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

Insider Buying and Selling by Quarter for Cedar Fair, L.P. (NYSE:FUN)

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