81,200 Shares in Cedar Fair, L.P. (NYSE:FUN) Purchased by Torno Capital LLC

Torno Capital LLC acquired a new position in Cedar Fair, L.P. (NYSE:FUN) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 81,200 shares of the company’s stock, valued at approximately $4,413,000. Cedar Fair makes up about 0.2% of Torno Capital LLC’s holdings, making the stock its 15th largest holding. Torno Capital LLC owned about 0.16% of Cedar Fair as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FUN. Goldman Sachs Group Inc. lifted its holdings in Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after purchasing an additional 539,352 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after purchasing an additional 300 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in Cedar Fair in the 1st quarter valued at about $257,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Cedar Fair by 121.9% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock valued at $1,017,000 after purchasing an additional 13,332 shares in the last quarter. Finally, HAP Trading LLC purchased a new position in Cedar Fair in the 1st quarter valued at about $1,329,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Stock Down 0.4 %

Shares of NYSE:FUN opened at $41.31 on Tuesday. Cedar Fair, L.P. has a 52-week low of $34.04 and a 52-week high of $58.70. The company has a 50 day moving average of $44.48 and a two-hundred day moving average of $44.43. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.00 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The business had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. On average, equities analysts anticipate that Cedar Fair, L.P. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FUN. Oppenheimer increased their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley increased their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. Citigroup cut their price objective on shares of Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. B. Riley cut their price objective on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Mizuho cut their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.91.

Cedar Fair 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.