Cedar Fair (NYSE:FUN) Shares Pass Above 200 Day Moving Average – Here’s Why

Cedar Fair, L.P. (NYSE:FUN)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $43.97 and traded as high as $45.44. Cedar Fair shares last traded at $44.00, with a volume of 2,290,296 shares traded.

Analyst Ratings Changes

FUN has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Cedar Fair in a research note on Monday, December 9th. They set a “buy” rating and a $59.00 price target on the stock. StockNews.com lowered Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Macquarie reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cedar Fair in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Citigroup lifted their price target on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.54.

Cedar Fair Stock Performance

The stock’s 50-day moving average price is $45.87 and its 200 day moving average price is $43.97. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market cap of $4.41 billion, a P/E ratio of -68.74 and a beta of 1.55.

Institutional Investors Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC acquired a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,459 shares of the company’s stock, valued at approximately $260,000. Hedge funds and other institutional investors 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.