In today’s session Cedar Fair, L.P. (FUN) recorded an unusually high (230) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious FUN decrease. With 230 contracts traded and 844 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: FUN161118P00055000 closed last at: $0.85 or 41.7% up. About 97,853 shares traded hands. Cedar Fair, L.P. (NYSE:FUN) has declined 4.54% since March 29, 2016 and is downtrending. It has underperformed by 8.01% the S&P500.
Analysts await Cedar Fair, L.P. (NYSE:FUN) to report earnings on November, 3. They expect $3.63 earnings per share, up 24.32% or $0.71 from last year’s $2.92 per share. FUN’s profit will be $204.66 million for 3.90 P/E if the $3.63 EPS becomes a reality. After $1.03 actual earnings per share reported by Cedar Fair, L.P. for the previous quarter, Wall Street now forecasts 252.43% EPS growth.
Cedar Fair, L.P. (NYSE:FUN) Ratings Coverage
Out of 6 analysts covering Cedar Fair (NYSE:FUN), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $68 is the highest target while $60 is the lowest. The $64 average target is 13.11% above today’s ($56.58) stock price. Cedar Fair has been the topic of 9 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Stephens initiated Cedar Fair, L.P. (NYSE:FUN) on Tuesday, April 19 with “Equal-Weight” rating. The stock of Cedar Fair, L.P. (NYSE:FUN) has “Buy” rating given on Monday, August 24 by Hilliard Lyons. The company was initiated on Wednesday, December 9 by Macquarie Research. The company was initiated on Wednesday, September 16 by Janney Capital. As per Friday, July 8, the company rating was upgraded by Macquarie Research. FBR Capital maintained Cedar Fair, L.P. (NYSE:FUN) on Thursday, February 18 with “Outperform” rating. The company was upgraded on Monday, January 25 by Goldman Sachs.
According to Zacks Investment Research, “Cedar Fair, L.P. and its affiliated companies own and operate five amusement parks: Cedar Point, Knott’s Berry Farm, Dorney Park & Wildwater Kingdom, Valleyfair, and Worlds of Fun/Oceans of Fun. The parks are family-oriented, with recreational facilities for people of all ages, and provide clean and attractive environments with exciting rides and entertainment. The company also owns and operates four hotel facilities. Cedar Point also owns and operates the Cedar Point Marina, one of the largest full-service marinas on the Great Lakes.”
Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.27, from 1.02 in 2016Q1. The ratio dropped, as 17 funds sold all Cedar Fair, L.P. shares owned while 54 reduced positions. 12 funds bought stakes while 41 increased positions. They now own 26.96 million shares or 4.26% less from 28.16 million shares in 2016Q1.
Moreover, Allianz Asset Mgmt Ag has 0.01% invested in Cedar Fair, L.P. (NYSE:FUN) for 444,140 shares. Moreover, Epoch Inv Prns has 0.06% invested in Cedar Fair, L.P. (NYSE:FUN) for 272,003 shares. Ameriprise holds 8,138 shares or 0% of its portfolio. Sheets Smith Wealth Mngmt holds 0.07% or 3,925 shares in its portfolio. Motco last reported 0% of its portfolio in the stock. Huntington Fincl Bank reported 3,683 shares or 0.01% of all its holdings. Moreover, Tocqueville Asset Mngmt Limited Partnership has 0% invested in Cedar Fair, L.P. (NYSE:FUN) for 6,250 shares. Columbia Asset Mgmt holds 0.11% or 5,407 shares in its portfolio. Northern Trust Corp holds 0% or 6,689 shares in its portfolio. Old National Bank In reported 20,200 shares or 0.07% of all its holdings. Thrivent Fincl For Lutherans reported 311,086 shares or 0.09% of all its holdings. Avenir Corporation last reported 0.48% of its portfolio in the stock. Neuberger Berman Grp Inc Limited Liability has 0.49% invested in the company for 6.13 million shares. The Texas-based Next Financial Group Inc Incorporated has invested 0.01% in Cedar Fair, L.P. (NYSE:FUN). Ci holds 0.64% of its portfolio in Cedar Fair, L.P. (NYSE:FUN) for 403,750 shares.
Insider Transactions: Since May 16, 2016, the stock had 2 insider buys, and 3 selling transactions for $572,555 net activity. DUFFIELD MILKIE sold $387,794 worth of stock or 6,374 shares. KLEIN THOMAS also bought $175,950 worth of Cedar Fair, L.P. (NYSE:FUN) on Thursday, June 2. On Friday, September 23 Hoffman David R. sold $427,017 worth of the stock or 7,043 shares. On Wednesday, June 1 Freeman Craig J sold $107,694 worth of the stock or 1,794 shares.
Cedar Fair, L.P. is an operator of regional amusement parks. The company has a market cap of $3.19 billion. The Firm owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. It has a 21.62 P/E ratio. The Firm operates through amusement/water parks with accompanying resort facilities segment.
FUN Company Profile
Cedar Fair, L.P., incorporated on March 4, 1987, is an operator of regional amusement parks. The Firm owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Firm operates through amusement/water parks with accompanying resort facilities segment. The Company’s parks are family oriented, with recreational facilities for people of all ages. The Company’s amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St. Paul in Shakopee, Minnesota; Michigan’s Adventure located near Muskegon, Michigan; Kings Dominion near Richmond, Virginia; Carowinds in Charlotte, North Carolina; Worlds of Fun located in Kansas City, Missouri; Knott’s Berry Farm, located near Los Angeles in Buena Park, California, and California’s Great America (Great America) located in Santa Clara, California. The Firm also manages and operates Gilroy Gardens Family Theme Park in Gilroy, California.
More notable recent Cedar Fair, L.P. (NYSE:FUN) news were published by: Toledoblade.com which released: “Cedar Fair CEO gets indefinite contract extension” on June 09, 2016, also Toledoblade.com with their article: “Cedar Fair reports record revenues” published on August 03, 2016, Toledoblade.com published: “Cedar Fair affirms new rides, improvements” on September 27, 2016. More interesting news about Cedar Fair, L.P. (NYSE:FUN) were released by: Toledoblade.com and their article: “Cedar Fair picks COO to also be its president” published on October 28, 2016 as well as Toledoblade.com‘s news article titled: “Experts wonder if Cedar Fair is buyer of Fla. site” with publication date: October 26, 2016.
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