Could Cedar Fair, L.P. Change Direction After Today’s Bullish Options Activity?

 Could Cedar Fair, L.P. Change Direction After Today's Bullish Options Activity?

In today’s session Cedar Fair, L.P. (FUN) registered an unusually high (1,001) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the June, 2017 call, expecting serious FUN increase. With 1,001 contracts traded and 504 open interest for the Jun, 17 contract, it seems this is a quite bullish bet. The option with symbol: FUN170616C00060000 closed last at: $3.7 or 19.4% up. About 27,453 shares traded hands. Cedar Fair, L.P. (NYSE:FUN) has risen 4.72% since April 28, 2016 and is uptrending. It has underperformed by 1.21% the S&P500.

Analysts await Cedar Fair, L.P. (NYSE:FUN) to report earnings on February, 15. They expect $0.06 earnings per share, up 146.15% or $0.19 from last year’s $-0.13 per share. FUN’s profit will be $3.37 million for 248.63 P/E if the $0.06 EPS becomes a reality. After $3.10 actual earnings per share reported by Cedar Fair, L.P. for the previous quarter, Wall Street now forecasts -98.06% negative 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 7.26% above today’s ($59.67) stock price. Cedar Fair has been the topic of 9 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The rating was initiated by Macquarie Research with “Neutral” on Wednesday, December 9. The stock of Cedar Fair, L.P. (NYSE:FUN) earned “Outperform” rating by Macquarie Research on Friday, July 8. The rating was upgraded by Hilliard Lyons to “Buy” on Monday, August 24. The firm has “Outperform” rating by FBR Capital given on Thursday, February 18. The firm has “Conviction Buy” rating by Goldman Sachs given on Monday, January 25. The stock has “Buy” rating given by Janney Capital on Wednesday, September 16. As per Tuesday, April 19, the company rating was initiated by Stephens.

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 increased to 1.81 in Q2 2016. Its up 1.06, from 0.75 in 2016Q1. The ratio improved, 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.
Barclays Public Ltd Liability Corp holds 0% of its portfolio in Cedar Fair, L.P. (NYSE:FUN) for 16,111 shares. Moreover, Financial Bank Of Montreal Can has 0% invested in Cedar Fair, L.P. (NYSE:FUN) for 55,910 shares. Raymond James Financial Service holds 0.01% of its portfolio in Cedar Fair, L.P. (NYSE:FUN) for 17,040 shares. Johnson Invest Counsel Inc last reported 0.01% of its portfolio in the stock. Segment Wealth Lc accumulated 8,100 shares or 0.19% of the stock. Stifel Financial has invested 0.04% of its portfolio in Cedar Fair, L.P. (NYSE:FUN). The Massachusetts-based Loomis Sayles Company L P has invested 0% in Cedar Fair, L.P. (NYSE:FUN). Janney Montgomery Scott Limited Liability Com last reported 4,128 shares in the company. Westport Resource Management, a Connecticut-based fund reported 2,450 shares. Credit Suisse Ag holds 0.05% of its portfolio in Cedar Fair, L.P. (NYSE:FUN) for 740,183 shares. Putnam Invests Limited Liability Company reported 26,164 shares or 0% of all its holdings. Lpl Fin Limited Liability Corp has invested 0.01% of its portfolio in Cedar Fair, L.P. (NYSE:FUN). Fifth Third National Bank has 13,345 shares for 0.01% of their US portfolio. Moreover, Wells Fargo & Mn has 0% invested in Cedar Fair, L.P. (NYSE:FUN) for 171,226 shares. Bnp Paribas Arbitrage Sa has invested 0.02% of its portfolio in Cedar Fair, L.P. (NYSE:FUN).

Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 2 insider sales for $814,811 net activity. KLEIN THOMAS bought $175,950 worth of stock. Shares for $387,794 were sold by DUFFIELD MILKIE on Tuesday, September 20. The insider Hoffman David R. sold 7,043 shares worth $427,017.

Cedar Fair, L.P. is an operator of regional amusement parks. The company has a market cap of $3.35 billion. The Firm owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. It has a 21.27 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 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 published the news titled: “Cedar Fair reports record revenues” on August 03, 2016. Seekingalpha.com‘s news article titled: “Cedar Fair Posts Record Results” with publication date: November 14, 2016 was also an interesting one.

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