Cedar Fair, L.P. (NYSE:FUN) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC reduced its stake in Cedar Fair, L.P. (NYSE:FUN) by 23.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,675 shares of the company’s stock after selling 2,300 shares during the period. Chesley Taft & Associates LLC’s holdings in Cedar Fair, L.P. were worth $553,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FUN. Advisory Services Network LLC purchased a new position in shares of Cedar Fair, L.P. during the first quarter valued at about $102,000. IFP Advisors Inc raised its position in shares of Cedar Fair, L.P. by 3.2% in the first quarter. IFP Advisors Inc now owns 7,188 shares of the company’s stock valued at $487,000 after buying an additional 221 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Cedar Fair, L.P. by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,370 shares of the company’s stock valued at $364,000 after buying an additional 250 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Cedar Fair, L.P. by 8.3% in the first quarter. River Road Asset Management LLC now owns 602,213 shares of the company’s stock valued at $40,836,000 after buying an additional 45,983 shares in the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Cedar Fair, L.P. during the first quarter valued at about $188,000. 51.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Cedar Fair, L.P. (FUN) traded down 0.42% during mid-day trading on Tuesday, reaching $65.94. The company’s stock had a trading volume of 102,038 shares. The firm has a market cap of $3.71 billion, a PE ratio of 27.66 and a beta of 0.50. Cedar Fair, L.P. has a one year low of $56.23 and a one year high of $72.56. The firm’s 50 day moving average is $70.00 and its 200 day moving average is $68.57.

Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by $0.20. The business had revenue of $392.80 million for 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 period in the previous year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that Cedar Fair, L.P. will post $3.00 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.855 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, September 1st. Cedar Fair, L.P.’s payout ratio is presently 144.30%.

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Several analysts recently weighed in on the company. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a research note on Tuesday, July 4th. Stifel Nicolaus restated a “buy” rating and issued a $78.00 price target on shares of Cedar Fair, L.P. in a research note on Friday, July 7th. Zacks Investment Research downgraded Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. BidaskClub downgraded Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, SunTrust Banks, Inc. assumed coverage on Cedar Fair, L.P. in a research note on Wednesday, April 12th. They issued a “hold” rating and a $72.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Cedar Fair, L.P. presently has an average rating of “Hold” and an average target price of $74.75.

In other news, CEO Matthew A. Ouimet sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $70.15, for a total transaction of $1,052,250.00. Following the transaction, the chief executive officer now directly owns 220,499 shares of the company’s stock, valued at $15,468,004.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew A. Ouimet sold 9,100 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $68.89, for a total value of $626,899.00. Following the transaction, the chief executive officer now directly owns 200,799 shares in the company, valued at $13,833,043.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,100 shares of company stock worth $2,533,549. Insiders own 2.00% of the company’s stock.

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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