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

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cedar Fair stock. S.A. Mason LLC grew its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 63.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 993 shares of the company’s stock after buying an additional 384 shares during the period. S.A. Mason LLC’s holdings in Cedar Fair were worth $40,000 as of its most recent SEC filing. 64.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FUN has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price target on the stock. Guggenheim raised their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Macquarie reiterated an “outperform” rating and set a $55.00 price objective on shares of Cedar Fair in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group dropped their target price on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.54.

Cedar Fair Trading Up 5.7 %

Shares of NYSE:FUN traded up $2.48 during midday trading on Tuesday, hitting $45.76. 1,109,914 shares of the stock traded hands, compared to its average volume of 1,074,646. 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 business’s 50 day moving average is $45.99 and its two-hundred day moving average is $43.88. The stock has a market capitalization of $4.59 billion, a PE ratio of -71.49 and a beta of 1.55. Cedar Fair has a one year low of $35.93 and a one year high of $58.70.

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.