Cedar Fair L.P. (NYSE:FUN) closed Thursday at $41.00 per share, up from $40.18 a day earlier. While Cedar Fair L.P. has overperformed by 2.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, FUN fell by -0.99%, with highs and lows ranging from $62.56 to $37.78, whereas the simple moving average fell by -16.75% in the last 200 days.
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On April 26, 2022, Rosenblatt started tracking Cedar Fair L.P. (NYSE: FUN) recommending Neutral. A report published by Citigroup on February 10, 2022, Initiated its previous ‘Buy’ rating for FUN. Deutsche Bank also rated FUN shares as ‘Buy’, setting a target price of $66 on the company’s shares in an initiating report dated November 17, 2021. B. Riley Securities Reiterated the rating as Buy on November 05, 2020, but set its price target from $35 to $40. Janney July 09, 2020d its ‘Buy’ rating to ‘Neutral’ for FUN, as published in its report on July 09, 2020. B. Riley FBR’s report from June 15, 2020 suggests a price prediction of $42 for FUN shares, giving the stock a ‘Buy’ rating. Goldman also rated the stock as ‘Buy’.
Analysis of Cedar Fair L.P. (FUN)
Further, the quarter-over-quarter increase in sales is 918.60%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Cedar Fair L.P.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 3.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and FUN is recording an average volume of 407.98K. On a monthly basis, the volatility of the stock is set at 3.73%, whereas on a weekly basis, it is put at 4.10%, with a loss of -3.28% over the past seven days. Furthermore, long-term investors anticipate a median target price of $65.33, showing growth from the present price of $41.00, which can serve as yet another indication of whether FUN is worth investing in or should be passed over.
How Do You Analyze Cedar Fair L.P. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 67.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in FUN shares?
The recent increase in stakes in FUN appears to be a result of several institutional investors and hedge funds increasing their positions. Goldman Sachs & Co. LLC’s position in FUN has increased by 0.47% in the first quarter. The company now owns 4,989,597 shares of the stock, with a value of $219.09 million, following the purchase of 23,382 additional shares during the last quarter. Centerbridge Partners LP made another increased to its shares in FUN during the first quarter, upping its stake by 33.41%. During the last quarter, the company dropped down 742,695 additional shares for a total stake of worth $130.21 million, bringing number of shares owned by the company to 2,965,496.
During the first quarter, ING Bank NV subtracted a -246,000 position in FUN. T. Rowe Price Associates, Inc. sold an additional -0.17 million shares in the last quarter, decreasing its holdings by -6.68%, now holding 2.34 million shares worth $102.96 million. At the end of the first quarter, Bank of America, NA decreased its FUN holdings by -11.21% and now holds 2.17 million FUN shares valued at $95.48 million with the lessened -0.27 million shares during the period. FUN shares are owned by institutional investors to the tune of 67.40% at present.