Cedar Fair (NYSE:FUN) Reaches New 12-Month Low – Here’s What Happened

Cedar Fair, L.P. (NYSE:FUN)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $34.75 and last traded at $35.87, with a volume of 1179158 shares trading hands. The stock had previously closed at $37.64.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group started coverage on Cedar Fair in a research note on Monday, December 9th. They set a “buy” rating and a $59.00 price target on the stock. Truist Financial boosted their target price on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. StockNews.com downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday. Macquarie reiterated an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a report on Friday. Finally, Guggenheim decreased their price objective on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Cedar Fair has a consensus rating of “Moderate Buy” and a consensus target price of $56.15.

Cedar Fair Price Performance

The business has a 50 day moving average price of $44.90 and a 200-day moving average price of $43.85. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -56.30 and a beta of 1.54. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.32 and a current ratio of 0.40.

Hedge Funds Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC bought a new position in shares of Cedar Fair, L.P. (NYSE:FUN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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.

Cedar Fair Company 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.