Cedar Fair (NYSE:FUN) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Cedar Fair, L.P. (NYSE:FUN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $45.41 and traded as high as $48.67. Cedar Fair shares last traded at $47.77, with a volume of 907,521 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Jefferies Financial Group started coverage on Cedar Fair in a report on Monday, December 9th. They set a “buy” rating and a $59.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Oppenheimer reduced their target price on shares of Cedar Fair from $67.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Guggenheim boosted their price objective on shares of Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.07.

Cedar Fair Trading Down 1.8 %

The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -73.26 and a beta of 1.58. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The business’s 50-day moving average price is $46.17 and its two-hundred day moving average price is $45.40.

Institutional Investors Weigh In On Cedar Fair

A number of large investors have recently bought and sold shares of the company. Torno Capital LLC acquired a new position in shares of Cedar Fair in the 2nd quarter valued at approximately $4,413,000. Commonwealth Equity Services LLC lifted its stake in Cedar Fair by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair during the third quarter worth $260,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Cedar Fair by 94.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock valued at $157,000 after acquiring an additional 1,400 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in shares of Cedar Fair by 63.1% during the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.