Creative Planning Sells 1,262 Shares of Cedar Fair, L.P. (NYSE:FUN)

Creative Planning lowered its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,610 shares of the company’s stock after selling 1,262 shares during the period. Creative Planning’s holdings in Cedar Fair were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its position in Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings 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 worth $157,000 after buying an additional 1,400 shares during the last quarter. Brookstone Capital Management bought a new stake in shares of Cedar Fair in the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC bought a new stake in shares of Cedar Fair in the 2nd quarter worth about $252,000. Institutional investors own 64.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cedar Fair from $48.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Morgan Stanley increased their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. B. Riley lowered their target price on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Mizuho decreased their price target on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Macquarie reduced their target price on shares of Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.33.

Cedar Fair Stock Performance

FUN opened at $39.64 on Thursday. The company’s 50 day simple moving average is $41.44 and its 200 day simple moving average is $44.01. Cedar Fair, L.P. has a 1 year low of $34.04 and a 1 year high of $58.70. The stock has a market capitalization of $2.03 billion, a PE ratio of 16.31 and a beta of 1.55.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $571.62 million for the quarter, compared to analyst estimates of $525.57 million. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. As a group, sell-side analysts expect that Cedar Fair, L.P. will post 2.08 earnings per share for the current fiscal year.

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.