Cedar Fair, L.P. (NYSE:FUN) Director Sells $224,649.81 in Stock

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) Director Michelle M. Frymire sold 5,929 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the transaction, the director now directly owns 7,162 shares in the company, valued at approximately $271,368.18. This represents a 45.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cedar Fair Stock Performance

Shares of FUN traded up $1.14 on Friday, reaching $37.88. 1,550,236 shares of the company's stock traded hands, compared to its average volume of 1,566,258. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The stock has a market cap of $3.83 billion, a PE ratio of -59.19 and a beta of 0.84. The stock's 50 day simple moving average is $34.98 and its two-hundred day simple moving average is $41.72. Cedar Fair, L.P. has a 52-week low of $28.02 and a 52-week high of $58.70.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 113.05% and a net margin of 0.99%. The business had revenue of $202.06 million during the quarter, compared to analyst estimates of $235.51 million. The firm's revenue for the quarter was up 98.9% on a year-over-year basis. On average, analysts forecast that Cedar Fair, L.P. will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cedar Fair

A hedge fund recently raised its stake in Cedar Fair stock. Peregrine Capital Management LLC raised its position in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,499 shares of the company's stock after purchasing an additional 9,231 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of Cedar Fair worth $4,691,000 at the end of the most recent reporting period. Institutional investors own 64.65% of the company's stock.

Analyst Upgrades and Downgrades

FUN has been the topic of several recent analyst reports. Truist Financial decreased their price target on Cedar Fair from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Guggenheim decreased their price target on Cedar Fair from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Barclays initiated coverage on Cedar Fair in a research note on Friday, March 14th. They issued an "overweight" rating and a $41.00 price target on the stock. Stifel Nicolaus decreased their price target on Cedar Fair from $64.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Mizuho boosted their price target on Cedar Fair from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Cedar Fair has an average rating of "Moderate Buy" and a consensus price target of $49.20.

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.