Cedar Fair (NYSE:FUN) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Cedar Fair, L.P. (NYSE:FUN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.43 and traded as high as $46.91. Cedar Fair shares last traded at $45.93, with a volume of 1,202,327 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Guggenheim initiated coverage on shares of Cedar Fair in a research note on Tuesday, October 29th. They set a “buy” rating and a $52.00 price objective for the company. Truist Financial dropped their price objective on shares of Cedar Fair from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Cedar Fair from $43.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Cedar Fair from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Cedar Fair presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Cedar Fair Stock Performance

The firm’s fifty day moving average price is $40.91 and its 200 day moving average price is $44.43. 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 stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -71.77 and a beta of 1.55.

Hedge Funds Weigh In On Cedar Fair

Several large investors have recently made changes to their positions in the stock. S.A. Mason LLC lifted its holdings in Cedar Fair by 63.1% during the 3rd quarter. S.A. Mason LLC now owns 993 shares of the company’s stock worth $40,000 after buying an additional 384 shares in the last quarter. CWM LLC lifted its holdings in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after buying an additional 1,864 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Cedar Fair by 94.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after buying an additional 1,400 shares in the last quarter. Brookstone Capital Management acquired a new stake in Cedar Fair during the 2nd quarter worth approximately $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in Cedar Fair during the 2nd quarter worth approximately $252,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.