Marcum Wealth LLC Sells 5,773 Shares of Cedar Fair, L.P. (NYSE:FUN)

Marcum Wealth LLC lowered its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 30.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,935 shares of the company’s stock after selling 5,773 shares during the period. Marcum Wealth LLC’s holdings in Cedar Fair were worth $703,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Aurora Investment Counsel grew its holdings in Cedar Fair by 1.7% in the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after purchasing an additional 253 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Cedar Fair by 10.0% in 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 period. Tower Research Capital LLC TRC grew its stake in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after acquiring an additional 562 shares in the last quarter. Cetera Advisors LLC grew its stake in Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Cedar Fair by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock worth $3,761,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

FUN has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target (up from $53.00) on shares of Cedar Fair in a report on Friday, July 12th. Mizuho reduced their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Oppenheimer raised their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Macquarie began coverage on shares of Cedar Fair in a research note on Thursday, July 18th. They issued an “outperform” rating and a $64.00 price target for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $63.00 target price on shares of Cedar Fair in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.10.

Cedar Fair Price Performance

Shares of FUN stock traded down $0.43 during mid-day trading on Monday, hitting $43.61. The company had a trading volume of 2,984,470 shares, compared to its average volume of 631,721. Cedar Fair, L.P. has a 52-week low of $34.04 and a 52-week high of $58.70. The stock’s 50 day moving average price is $49.09 and its 200-day moving average price is $43.95. The company has a market capitalization of $2.24 billion, a P/E ratio of 17.95 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The firm had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. On average, equities research analysts expect that Cedar Fair, L.P. will post 3.63 earnings per share for the current year.

Cedar Fair Announces Dividend

The firm also recently disclosed a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were paid a $1.53 dividend. The ex-dividend date was Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is presently 49.38%.

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.