Cedar Fair (NYSE:FUN) Cut to Sell at StockNews.com

StockNews.com lowered shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a report published on Friday.

FUN has been the subject of several other research reports. Truist Financial raised their price target on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Macquarie reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cedar Fair in a research note on Thursday, November 7th. Guggenheim raised their price target on shares of Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup raised their price target on shares of Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price target for the company. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.54.

Cedar Fair Trading Down 2.8 %

NYSE:FUN opened at $45.13 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -70.51 and a beta of 1.55. Cedar Fair has a 52 week low of $35.93 and a 52 week high of $58.70. The firm has a 50-day moving average price of $45.99 and a two-hundred day moving average price of $43.93.

Institutional Trading of Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.