Voss Capital LLC Lowers Stake in Cedar Fair, L.P. (NYSE:FUN)

Voss Capital LLC lessened its holdings in shares of Cedar Fair, L.P. (NYSE:FUN - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,657 shares of the company's stock after selling 254,343 shares during the period. Cedar Fair makes up about 0.7% of Voss Capital LLC's portfolio, making the stock its 29th biggest holding. Voss Capital LLC owned about 0.33% of Cedar Fair worth $6,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FUN. Money Concepts Capital Corp purchased a new stake in shares of Cedar Fair during the 4th quarter valued at $26,000. Tower Research Capital LLC TRC lifted its holdings in shares of Cedar Fair by 355.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company's stock valued at $38,000 after purchasing an additional 636 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of Cedar Fair during the 1st quarter valued at $41,000. Ancora Advisors LLC lifted its holdings in shares of Cedar Fair by 34.6% during the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company's stock valued at $106,000 after purchasing an additional 550 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Cedar Fair by 44.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company's stock valued at $110,000 after purchasing an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FUN. Stifel Nicolaus lifted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. StockNews.com began coverage on Cedar Fair in a research report on Saturday. They set a "buy" rating for the company. KeyCorp lifted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Mizuho started coverage on Cedar Fair in a research report on Tuesday, March 26th. They set a "buy" rating and a $56.00 price target for the company. Finally, Truist Financial lifted their price objective on Cedar Fair from $46.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $50.30.

Cedar Fair Price Performance

FUN stock traded down $0.22 during trading on Monday, hitting $38.97. The stock had a trading volume of 291,489 shares, compared to its average volume of 228,885. Cedar Fair, L.P. has a twelve month low of $34.04 and a twelve month high of $45.39. The stock has a market capitalization of $1.99 billion, a P/E ratio of 15.93 and a beta of 1.41. The company's 50-day moving average price is $41.49 and its two-hundred day moving average price is $39.29.

Cedar Fair (NYSE:FUN - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. As a group, sell-side analysts expect that Cedar Fair, L.P. will post 3.28 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair's dividend payout ratio is currently 48.98%.

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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