Brookstone Capital Management Purchases 5,766 Shares of Cedar Fair, L.P. (FUN)

Brookstone Capital Management lifted its position in shares of Cedar Fair, L.P. (NYSE:FUN) by 161.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,347 shares of the company’s stock after acquiring an additional 5,766 shares during the period. Brookstone Capital Management’s holdings in Cedar Fair were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its position in Cedar Fair by 61.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,934 shares of the company’s stock worth $153,000 after buying an additional 1,116 shares during the period. Edge Wealth Management LLC acquired a new stake in Cedar Fair in the third quarter worth $154,000. Pennsylvania Trust Co acquired a new stake in Cedar Fair in the second quarter worth $238,000. Janney Montgomery Scott LLC acquired a new stake in Cedar Fair in the third quarter worth $250,000. Finally, Whittier Trust Co. acquired a new stake in Cedar Fair in the third quarter worth $307,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of FUN traded down $1.45 during trading hours on Monday, reaching $53.27. 184,464 shares of the company’s stock traded hands, compared to its average volume of 181,305. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The company has a debt-to-equity ratio of 18.09, a quick ratio of 0.94 and a current ratio of 1.07. Cedar Fair, L.P. has a twelve month low of $47.90 and a twelve month high of $70.82.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $3.76 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.55. Cedar Fair had a return on equity of 1,656.35% and a net margin of 15.58%. The company had revenue of $663.70 million for the quarter, compared to analyst estimates of $659.45 million. During the same period last year, the company earned $3.38 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Cedar Fair, L.P. will post 2.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Tuesday, December 4th will be paid a dividend of $0.925 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $3.70 annualized dividend and a yield of 6.95%. This is a boost from Cedar Fair’s previous quarterly dividend of $0.89. Cedar Fair’s dividend payout ratio (DPR) is currently 87.90%.

In other news, Director Eric Affeldt bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average price of $51.44 per share, with a total value of $102,880.00. Following the completion of the purchase, the director now directly owns 12,200 shares of the company’s stock, valued at approximately $627,568. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas Klein bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were purchased at an average cost of $50.98 per share, with a total value of $1,019,600.00. Following the purchase, the director now directly owns 56,012 shares of the company’s stock, valued at $2,855,491.76. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

FUN has been the topic of several analyst reports. ValuEngine raised Cedar Fair from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Stifel Nicolaus increased their target price on Cedar Fair from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research lowered Cedar Fair from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cedar Fair has a consensus rating of “Buy” and a consensus price target of $65.00.

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Cedar Fair 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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Institutional Ownership by Quarter for Cedar Fair (NYSE:FUN)

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