Cedar Fair (NYSE:FUN) Stock Price Down 6.3% – Should You Sell?

Shares of Cedar Fair, L.P. (NYSE:FUN) fell 6.3% on Tuesday . The company traded as low as $36.17 and last traded at $36.42. 189,642 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,203,848 shares. The stock had previously closed at $38.88.

Analyst Ratings Changes

A number of research firms have recently weighed in on FUN. Truist Financial raised their target price on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. StockNews.com lowered Cedar Fair from a “hold” rating to a “sell” rating in a report on Thursday, March 6th. Guggenheim dropped their target price on Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group assumed coverage on Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, Citigroup lifted their price target on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cedar Fair has an average rating of “Moderate Buy” and an average target price of $55.07.

Cedar Fair Stock Up 3.3 %

The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95. The stock has a 50-day simple moving average of $43.05 and a 200-day simple moving average of $43.43. The firm has a market capitalization of $3.73 billion, a PE ratio of -58.01 and a beta of 1.54.

Institutional Trading of Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new stake in Cedar Fair, L.P. (NYSE:FUN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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.

About Cedar Fair

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.