Cedar Fair, L.P. (NYSE:FUN) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

by · The Cerbat Gem

Deroy & Devereaux Private Investment Counsel Inc. decreased its holdings in Cedar Fair, L.P. (NYSE:FUN – Free Report) by 29.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,550 shares of the company’s stock after selling 23,550 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.11% of Cedar Fair worth $2,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Cedar Fair by 26.4% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Cedar Fair by 8.2% during the 3rd quarter. Brown Advisory Inc. now owns 93,486 shares of the company’s stock worth $3,459,000 after purchasing an additional 7,100 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Cedar Fair by 2.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock worth $580,000 after purchasing an additional 353 shares during the last quarter. Raymond James & Associates lifted its position in shares of Cedar Fair by 1.5% during the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock worth $1,035,000 after purchasing an additional 405 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Cedar Fair during the 3rd quarter worth $206,000. Institutional investors and hedge funds own 61.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FUN shares. StockNews.com assumed coverage on shares of Cedar Fair in a research report on Monday, January 8th. They set a “buy” rating for the company. Morgan Stanley boosted their price target on shares of Cedar Fair from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Stifel Nicolaus reduced their price target on shares of Cedar Fair from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. B. Riley reduced their price target on shares of Cedar Fair from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Finally, Citigroup raised shares of Cedar Fair from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.64.

Get Our Latest Stock Report on Cedar Fair

Cedar Fair Stock Performance

NYSE FUN opened at $39.10 on Friday. The firm has a market cap of $1.99 billion, a PE ratio of 13.44 and a beta of 1.44. Cedar Fair, L.P. has a one year low of $34.04 and a one year high of $47.95. The firm’s fifty day moving average is $38.69 and its two-hundred day moving average is $38.40.

Cedar Fair (NYSE:FUN – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.51. Cedar Fair had a net margin of 8.19% and a negative return on equity of 22.33%. The business had revenue of $842.01 million for the quarter, compared to analyst estimates of $821.16 million. Research analysts predict that Cedar Fair, L.P. will post 2.86 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, December 5th. Cedar Fair’s dividend payout ratio (DPR) is presently 41.24%.

About Cedar Fair

(Free Report)

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.

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