Cedar Fair (NYSE:FUN) Sets New 52-Week Low – Time to Sell?

Shares of Cedar Fair, L.P. (NYSE:FUN) hit a new 52-week low during trading on Monday . The company 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.

Analysts Set New Price Targets

Several research firms have commented on FUN. Citigroup raised their price objective on Cedar Fair from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Jefferies Financial Group began coverage on Cedar Fair in a report on Monday, December 9th. They set a “buy” rating and a $59.00 target price on the stock. Truist Financial upped their price target on Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Guggenheim reduced their target price on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Macquarie reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.15.

Cedar Fair Stock Up 2.5 %

The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -55.26 and a beta of 1.54. The firm’s fifty day moving average is $44.12 and its 200-day moving average is $43.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32.

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 purchased a new position in Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is 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.