Cedar Fair (NYSE:FUN) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Cedar Fair, L.P. (NYSE:FUN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.43 and traded as high as $46.91. Cedar Fair shares last traded at $45.93, with a volume of 1,202,327 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FUN. Mizuho lowered their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. B. Riley cut their price target on shares of Cedar Fair from $77.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Oppenheimer reduced their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Macquarie reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a research report on Thursday, November 7th. Finally, Guggenheim assumed coverage on Cedar Fair in a report on Tuesday, October 29th. They set a “buy” rating and a $52.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Cedar Fair Stock Performance

The stock has a fifty day moving average price of $40.91 and a two-hundred day moving average price of $44.47. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds have recently bought and sold shares of the company. HAP Trading LLC bought a new stake in Cedar Fair during the first quarter worth $1,329,000. Cetera Advisors LLC increased its holdings in shares of Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after buying an additional 675 shares during the last quarter. Aurora Investment Counsel raised its position in Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after purchasing an additional 253 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Cedar Fair during the 1st quarter valued at about $332,000. Finally, CWM LLC boosted its stake in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after buying an additional 1,864 shares in the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.