Cedar Fair, L.P. (NYSE:FUN) Sees Large Increase in Short Interest

Cedar Fair, L.P. (NYSE:FUN) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 9,640,000 shares, an increase of 7.3% from the October 31st total of 8,980,000 shares. Based on an average daily volume of 1,660,000 shares, the days-to-cover ratio is currently 5.8 days.

Cedar Fair Trading Up 2.4 %

Shares of FUN stock opened at $48.34 on Thursday. Cedar Fair has a fifty-two week low of $35.93 and a fifty-two week high of $58.70. The stock has a market cap of $4.85 billion, a P/E ratio of -73.76 and a beta of 1.58. The business has a fifty day simple moving average of $42.20 and a 200-day simple moving average of $44.85. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Analyst Ratings Changes

Several research analysts have issued reports on FUN shares. The Goldman Sachs Group cut their price objective on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Mizuho cut their price objective on Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. B. Riley cut their price objective on Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Truist Financial cut their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Institutional Trading of Cedar Fair

Large investors have recently made changes to their positions in the stock. S.A. Mason LLC boosted its stake 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 valued at $40,000 after acquiring an additional 384 shares during the last quarter. CWM LLC boosted its stake in shares of Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after acquiring an additional 1,864 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cedar Fair by 94.1% during the second 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. Brookstone Capital Management acquired a new stake in shares of Cedar Fair during the second quarter valued at $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in shares of Cedar Fair during the second quarter valued at $252,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

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.