Michelle M. Frymire Sells 5,929 Shares of Cedar Fair, L.P. (NYSE:FUN) Stock

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the completion of the sale, the director now owns 7,162 shares of the company's stock, valued at $271,368.18. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cedar Fair Price Performance

Shares of NYSE FUN traded up $2.30 during trading on Monday, hitting $38.21. 3,477,603 shares of the company were exchanged, compared to its average volume of 1,534,844. Cedar Fair, L.P. has a 1 year low of $28.02 and a 1 year high of $58.70. 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's fifty day moving average price is $34.95 and its 200 day moving average price is $41.85. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -59.70 and a beta of 0.84.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($2.20) earnings per share for the quarter, beating the consensus estimate of ($2.29) by $0.09. Cedar Fair had a net margin of 0.99% and a return on equity of 113.05%. The firm had revenue of $202.06 million during the quarter, compared to the consensus estimate of $235.51 million. The company's revenue was up 98.9% compared to the same quarter last year. On average, sell-side analysts expect that Cedar Fair, L.P. will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cedar Fair stock. Peregrine Capital Management LLC lifted its position in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the quarter. Peregrine Capital Management LLC owned about 0.13% of Cedar Fair worth $4,691,000 as of its most recent filing with the SEC. 64.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Guggenheim dropped their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. StockNews.com cut shares of Cedar Fair from a "hold" rating to a "sell" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Cedar Fair from $46.00 to $28.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group cut their price objective on shares of Cedar Fair from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Morgan Stanley lowered their target price on shares of Cedar Fair from $58.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Cedar Fair has a consensus rating of "Moderate Buy" and an average target price of $49.20.

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.

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