HL Financial Services LLC Reduces Stake in Cedar Fair, L.P. (FUN)

HL Financial Services LLC trimmed its position in Cedar Fair, L.P. (NYSE:FUN) by 20.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,964 shares of the company’s stock after selling 3,423 shares during the period. HL Financial Services LLC’s holdings in Cedar Fair, L.P. were worth $831,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in FUN. Solaris Asset Management LLC lifted its stake in shares of Cedar Fair, L.P. by 8.4% in the 2nd quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock valued at $111,000 after acquiring an additional 120 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Cedar Fair, L.P. by 10.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock valued at $120,000 after acquiring an additional 160 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Cedar Fair, L.P. in the 2nd quarter valued at $123,000. The Manufacturers Life Insurance Company lifted its stake in shares of Cedar Fair, L.P. by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after acquiring an additional 108 shares during the last quarter. Finally, Peddock Capital Advisors LLC bought a new position in shares of Cedar Fair, L.P. in the 2nd quarter valued at $144,000. Institutional investors own 51.43% of the company’s stock.

Shares of Cedar Fair, L.P. (FUN) traded up $0.50 during trading hours on Monday, reaching $67.50. The company had a trading volume of 47,400 shares, compared to its average volume of 133,828. The company has a market cap of $3,796.06, a price-to-earnings ratio of 22.88, a P/E/G ratio of 3.76 and a beta of 0.51. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18. Cedar Fair, L.P. has a twelve month low of $58.05 and a twelve month high of $72.56.

Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). The company had revenue of $652.69 million for the quarter, compared to the consensus estimate of $652.98 million. Cedar Fair, L.P. had a return on equity of 2,430.22% and a net margin of 11.75%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $3.10 earnings per share. equities analysts anticipate that Cedar Fair, L.P. will post 2.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.89 per share. This is a positive change from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Friday, December 1st. Cedar Fair, L.P.’s dividend payout ratio (DPR) is currently 129.06%.

A number of brokerages have recently commented on FUN. Zacks Investment Research cut Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub cut Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. KeyCorp reiterated an “overweight” rating and issued a $74.00 price target on shares of Cedar Fair, L.P. in a research note on Wednesday, August 30th. B. Riley reiterated a “buy” rating on shares of Cedar Fair, L.P. in a research note on Friday, November 3rd. Finally, FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $74.38.

In other news, CEO Matthew A. Ouimet sold 3,000 shares of Cedar Fair, L.P. stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $66.80, for a total value of $200,400.00. Following the completion of the transaction, the chief executive officer now directly owns 195,199 shares of the company’s stock, valued at approximately $13,039,293.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 2,000 shares of Cedar Fair, L.P. stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the transaction, the chief executive officer now directly owns 193,199 shares of the company’s stock, valued at $12,538,615.10. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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About Cedar Fair, L.P.

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.

Institutional Ownership by Quarter for Cedar Fair, L.P. (NYSE:FUN)

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