Cedar Fair, L.P. (NYSE:FUN) Shares Sold by Voss Capital LLC

Voss Capital LLC decreased its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 59.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,657 shares of the company’s stock after selling 254,343 shares during the quarter. Cedar Fair comprises approximately 0.7% of Voss Capital LLC’s holdings, making the stock its 29th biggest holding. Voss Capital LLC’s holdings in Cedar Fair were worth $6,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FUN. Carnegie Capital Asset Management LLC increased its stake in Cedar Fair by 10.9% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 10,546 shares of the company’s stock worth $420,000 after buying an additional 1,033 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Cedar Fair in the 4th quarter worth about $463,000. Saxon Interests Inc. bought a new stake in shares of Cedar Fair in the 4th quarter worth about $308,000. Sound Income Strategies LLC increased its position in shares of Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares during the last quarter. Finally, Aurora Investment Counsel bought a new stake in shares of Cedar Fair in the 3rd quarter worth about $2,142,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Stock Performance

Shares of NYSE:FUN traded down $0.22 during trading on Monday, reaching $38.97. The company had a trading volume of 291,489 shares, compared to its average volume of 228,885. The firm’s fifty day moving average is $41.49 and its 200 day moving average is $39.29. The firm has a market capitalization of $1.99 billion, a PE ratio of 15.93 and a beta of 1.41. Cedar Fair, L.P. has a twelve month low of $34.04 and a twelve month high of $45.39.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. Equities analysts predict that Cedar Fair, L.P. will post 3.28 earnings per share for the current fiscal year.

Cedar Fair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.08%. Cedar Fair’s dividend payout ratio is currently 48.98%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. KeyCorp boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Stifel Nicolaus boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Mizuho started coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price for the company. Truist Financial lifted their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Cedar Fair presently has a consensus rating of “Buy” and an average price target of $50.30.

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.