Cedar Fair, L.P. (NYSE:FUN) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Cedar Fair, L.P. (NYSE:FUN) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,202 shares of the company’s stock after selling 5,332 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.75% of Cedar Fair worth $20,773,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FUN. Aurora Investment Counsel boosted its holdings in shares of Cedar Fair by 1.7% in the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after buying an additional 253 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Cedar Fair by 10.0% during the fourth 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 during the last quarter. Cetera Advisors LLC raised its position in shares of Cedar Fair by 10.9% during the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after purchasing an additional 675 shares during the period. Commonwealth Equity Services LLC boosted its position in Cedar Fair by 4.6% during 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 period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Trading Down 0.4 %

Shares of NYSE FUN opened at $41.31 on Tuesday. The firm 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, L.P. has a twelve month low of $34.04 and a twelve month high of $58.70.

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, beating analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $571.62 million during the quarter, compared to analyst estimates of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, research analysts predict that Cedar Fair, L.P. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. B. Riley cut their price target on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Morgan Stanley increased their price objective on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. StockNews.com assumed coverage on Cedar Fair in a research note on Wednesday, September 4th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus decreased their price target on Cedar Fair from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cedar Fair presently has an average rating of “Moderate Buy” and a consensus price target 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.