AMG Funds LLC Has $2.02 Million Stake in Cedar Fair, L.P. (NYSE:FUN)

AMG Funds LLC raised its stake in Cedar Fair, L.P. (NYSE:FUN) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,984 shares of the company’s stock after acquiring an additional 177 shares during the quarter. Cedar Fair, L.P. makes up approximately 1.1% of AMG Funds LLC’s investment portfolio, making the stock its 28th largest position. AMG Funds LLC’s holdings in Cedar Fair, L.P. were worth $2,018,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in Cedar Fair, L.P. by 57.0% in the 1st quarter. FMR LLC now owns 2,841,330 shares of the company’s stock valued at $192,671,000 after buying an additional 1,031,160 shares during the last quarter. Northwestern Mutual Investment Management Company LLC bought a new position in Cedar Fair, L.P. in the 2nd quarter valued at approximately $31,274,000. OppenheimerFunds Inc. increased its position in Cedar Fair, L.P. by 8.5% during the 1st quarter. OppenheimerFunds Inc. now owns 2,140,592 shares of the company’s stock valued at $145,153,000 after purchasing an additional 166,891 shares during the period. Global X Management Co. LLC acquired a new stake in Cedar Fair, L.P. during the 1st quarter valued at approximately $7,727,000. Finally, JPMorgan Chase & Co. increased its position in Cedar Fair, L.P. by 58.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 111,370 shares of the company’s stock valued at $8,030,000 after purchasing an additional 41,034 shares during the period. 51.53% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair, L.P. (NYSE:FUN) traded up 0.269% during midday trading on Friday, hitting $65.135. The stock had a trading volume of 46,183 shares. Cedar Fair, L.P. has a 52 week low of $56.23 and a 52 week high of $72.56. The firm has a 50 day moving average of $66.38 and a 200 day moving average of $68.91. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 27.322 and a beta of 0.50.

Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.20). The company had revenue of $392.80 million during the quarter, compared to analyst estimates of $405.78 million. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Equities research analysts predict that Cedar Fair, L.P. will post $2.90 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th will be given a $0.855 dividend. The ex-dividend date is Friday, September 1st. This represents a $3.42 annualized dividend and a yield of 5.26%. Cedar Fair, L.P.’s dividend payout ratio is 144.30%.

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A number of analysts have weighed in on the stock. BidaskClub downgraded shares of Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective (down previously from $75.00) on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $81.00 target price on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $74.22.

In related news, Director Thomas Klein purchased 7,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $66.13 per share, for a total transaction of $462,910.00. Following the transaction, the director now directly owns 24,960 shares of the company’s stock, valued at approximately $1,650,604.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew A. Ouimet sold 12,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $71.20, for a total transaction of $854,400.00. Following the completion of the sale, the chief executive officer now owns 207,299 shares in the company, valued at $14,759,688.80. The disclosure for this sale can be found here. Insiders sold a total of 24,100 shares of company stock worth $1,681,699 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Cedar Fair, L.P. 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.

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

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