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

Shares of Cedar Fair, L.P. (NYSE:FUN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.41 and traded as high as $48.67. Cedar Fair shares last traded at $47.77, with a volume of 907,521 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FUN shares. The Goldman Sachs Group dropped their price objective on Cedar Fair from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Citigroup lifted their price target on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Truist Financial reduced their price objective on Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on shares of Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.07.

Cedar Fair Stock Performance

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 has a market cap of $4.79 billion, a P/E ratio of -74.64 and a beta of 1.58. The stock’s 50 day moving average is $46.04 and its two-hundred day moving average is $45.41.

Hedge Funds Weigh In On Cedar Fair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC acquired a new position in Cedar Fair during the third quarter worth $260,000. S.A. Mason LLC grew its holdings in shares of Cedar Fair by 63.1% in the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. Torno Capital LLC bought a new stake in shares of Cedar Fair in the 2nd quarter worth about $4,413,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Cedar Fair by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

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.