Cedar Fair, L.P. (NYSE:FUN) Short Interest Up 18.6% in September

Cedar Fair, L.P. (NYSE:FUN) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 10,710,000 shares, an increase of 18.6% from the September 15th total of 9,030,000 shares. Based on an average trading volume of 1,810,000 shares, the short-interest ratio is presently 5.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Torno Capital LLC acquired a new stake in Cedar Fair in the 2nd quarter worth approximately $4,413,000. HAP Trading LLC acquired a new position in Cedar Fair in the 1st quarter valued at $1,329,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Cedar Fair by 121.9% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after acquiring an additional 13,332 shares during the period. HM Payson & Co. acquired a new position in Cedar Fair during the 1st quarter worth $332,000. Finally, Stock Yards Bank & Trust Co. bought a new stake in Cedar Fair during the first quarter valued at about $257,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FUN shares. Citigroup dropped their target price on Cedar Fair from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Stifel Nicolaus dropped their price objective on Cedar Fair from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial decreased their target price on Cedar Fair from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 9th. B. Riley lowered their target price on Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their price objective on shares of Cedar Fair from $63.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cedar Fair currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.33.

Cedar Fair Stock Up 0.9 %

Shares of Cedar Fair stock traded up $0.37 during midday trading on Wednesday, hitting $39.56. The company’s stock had a trading volume of 332,620 shares, compared to its average volume of 930,711. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $58.70. The firm has a market capitalization of $2.03 billion, a P/E ratio of 16.12 and a beta of 1.55. The stock has a 50-day simple moving average of $41.51 and a 200-day simple moving average of $44.04.

Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, August 8th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $571.62 million for the quarter, compared to the consensus estimate of $525.57 million. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. As a group, sell-side analysts predict that Cedar Fair will post 2.08 earnings per share for the current year.

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.