Osterweis Capital Management Inc. grew its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 389,983 shares of the company’s stock after acquiring an additional 1,727 shares during the quarter. Osterweis Capital Management Inc. owned 0.69% of Cedar Fair worth $25,345,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in Cedar Fair by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after acquiring an additional 108 shares during the last quarter. Brown Advisory Securities LLC boosted its holdings in shares of Cedar Fair by 26.3% in the 3rd quarter. Brown Advisory Securities LLC now owns 4,259 shares of the company’s stock valued at $273,000 after buying an additional 887 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Cedar Fair by 19.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,521 shares of the company’s stock valued at $424,000 after buying an additional 1,075 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Cedar Fair by 2.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,013 shares of the company’s stock valued at $3,250,000 after buying an additional 1,125 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cedar Fair by 9.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 16,867 shares of the company’s stock valued at $1,081,000 after buying an additional 1,463 shares during the last quarter. 50.35% of the stock is owned by hedge funds and other institutional investors.
Cedar Fair, L.P. (NYSE FUN) traded up $0.64 during midday trading on Wednesday, hitting $64.90. The stock had a trading volume of 125,674 shares, compared to its average volume of 119,867. The firm has a market cap of $3,660.00, a P/E ratio of 22.23, a PEG ratio of 3.09 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 0.96 and a debt-to-equity ratio of 20.02. Cedar Fair, L.P. has a 12 month low of $59.66 and a 12 month high of $72.56.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.81. Cedar Fair had a return on equity of 1,855.11% and a net margin of 16.30%. The business had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $222.34 million. During the same quarter in the prior year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. equities analysts predict that Cedar Fair, L.P. will post 3.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, March 8th. Cedar Fair’s dividend payout ratio (DPR) is presently 121.92%.
Several research firms have recently commented on FUN. KeyCorp set a $77.00 price objective on Cedar Fair and gave the company a “buy” rating in a report on Wednesday, February 14th. Stifel Nicolaus increased their price objective on Cedar Fair from $74.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Zacks Investment Research downgraded Cedar Fair from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $75.20.
In related news, Chairman Matthew A. Ouimet sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $67.54, for a total value of $270,160.00. Following the sale, the chairman now owns 231,348 shares in the company, valued at approximately $15,625,243.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew A. Ouimet sold 2,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $64.69, for a total value of $129,380.00. Following the transaction, the insider now owns 243,057 shares in the company, valued at approximately $15,723,357.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock worth $807,000. 2.00% of the stock is owned by company insiders.
About Cedar Fair
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.
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