Cedar Fair (NYSE:FUN) Trading Down 6.6% – What’s Next?

Shares of Cedar Fair, L.P. (NYSE:FUN) traded down 6.6% on Tuesday . The stock traded as low as $39.96 and last traded at $40.51. 754,089 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,223,501 shares. The stock had previously closed at $43.39.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FUN shares. Macquarie reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a research note on Thursday, November 7th. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Guggenheim boosted their price target on Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup raised their price objective on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their target price on Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.54.

Cedar Fair Stock Down 6.4 %

The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -63.43 and a beta of 1.55. The firm has a 50 day moving average price of $45.67 and a two-hundred day moving average price of $44.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC bought a new stake in Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.