Plaisance Capital LLC lowered its stake in shares of Cedar Fair, L.P. (NYSE:FUN) by 19.9% in the second quarter, Holdings Channel reports. The firm owned 16,026 shares of the company’s stock after selling 3,974 shares during the period. Cedar Fair accounts for about 0.5% of Plaisance Capital LLC’s investment portfolio, making the stock its 26th largest position. Plaisance Capital LLC’s holdings in Cedar Fair were worth $441,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in shares of Cedar Fair in the second quarter worth about $28,000. JFS Wealth Advisors LLC acquired a new position in shares of Cedar Fair during the 2nd quarter worth approximately $28,000. Ameritas Investment Company LLC boosted its holdings in shares of Cedar Fair by 27.1% during the 1st quarter. Ameritas Investment Company LLC now owns 1,990 shares of the company’s stock worth $36,000 after purchasing an additional 424 shares during the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Cedar Fair in the second quarter valued at approximately $36,000. Finally, Hoover Financial Advisors Inc. acquired a new stake in shares of Cedar Fair in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 46.85% of the company’s stock.
NYSE FUN traded up $0.98 during trading on Friday, reaching $29.25. 509,293 shares of the company’s stock were exchanged, compared to its average volume of 607,292. The stock has a market cap of $1.66 billion, a P/E ratio of -10.48 and a beta of 1.94. The company has a 50 day moving average price of $27.38 and a two-hundred day moving average price of $29.53. Cedar Fair, L.P. has a 1 year low of $13.00 and a 1 year high of $64.86.
Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.12). The business had revenue of $6.59 million for the quarter, compared to analyst estimates of $16.32 million. Cedar Fair had a negative return on equity of 159.40% and a negative net margin of 15.10%. Cedar Fair’s revenue was down 98.5% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. As a group, research analysts anticipate that Cedar Fair, L.P. will post -8.53 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Cedar Fair from $44.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Janney Montgomery Scott downgraded shares of Cedar Fair from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a report on Thursday, July 9th. Credit Suisse Group started coverage on Cedar Fair in a research report on Thursday, May 21st. They issued an “outperform” rating and a $37.00 price objective for the company. Goldman Sachs Group started coverage on shares of Cedar Fair in a research note on Thursday, May 28th. They set a “buy” rating and a $43.00 target price for the company. Finally, ValuEngine upgraded Cedar Fair from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.20.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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