Virtu Financial LLC Sells 12,434 Shares of Cedar Fair, L.P. (FUN)
Virtu Financial LLC decreased its holdings in shares of Cedar Fair, L.P. (NYSE:FUN) by 60.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,287 shares of the company’s stock after selling 12,434 shares during the period. Virtu Financial LLC’s holdings in Cedar Fair were worth $436,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. PRW Wealth Management LLC bought a new stake in Cedar Fair during the fourth quarter valued at $34,000. CWM LLC bought a new stake in Cedar Fair during the fourth quarter valued at $65,000. First Manhattan Co. increased its stake in Cedar Fair by 166.7% during the fourth quarter. First Manhattan Co. now owns 1,600 shares of the company’s stock valued at $75,000 after purchasing an additional 1,000 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Cedar Fair by 26.7% during the fourth quarter. Advisory Services Network LLC now owns 2,049 shares of the company’s stock worth $97,000 after acquiring an additional 432 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Cedar Fair by 11.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,278 shares of the company’s stock worth $155,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.
FUN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, January 9th. TheStreet upgraded shares of Cedar Fair from a “c+” rating to a “b-” rating in a research report on Thursday, January 31st. Finally, Macquarie upgraded shares of Cedar Fair from a “neutral” rating to an “outperform” rating in a research report on Friday, February 15th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $60.83.
Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Wednesday, February 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.59). The firm had revenue of $249.80 million for the quarter, compared to the consensus estimate of $243.23 million. Cedar Fair had a return on equity of 22,432.99% and a net margin of 9.39%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. Equities research analysts predict that Cedar Fair, L.P. will post 3.3 EPS for the current year.
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Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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