Fintel reports that on August 4, 2023, Keybanc maintained coverage of Cedar Fair (NYSE:FUN) with a Overweight recommendation.
Analyst Price Forecast Suggests 23.04% Upside
As of August 2, 2023, the average one-year price target for Cedar Fair is 50.69. The forecasts range from a low of 41.41 to a high of $64.05. The average price target represents an increase of 23.04% from its latest reported closing price of 41.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cedar Fair is 1,855MM, an increase of 3.37%. The projected annual non-GAAP EPS is 2.92.
What is the Fund Sentiment?
There are 188 funds or institutions reporting positions in Cedar Fair. This is a decrease of 6 owner(s) or 3.09% in the last quarter. Average portfolio weight of all funds dedicated to FUN is 0.33%, a decrease of 7.91%. Total shares owned by institutions decreased in the last three months by 6.03% to 36,843K shares. 
The put/call ratio of FUN is 0.19, indicating a bullish outlook.
What are Other Shareholders Doing?
Goldman Sachs Group holds 3,547K shares representing 6.91% ownership of the company. In it's prior filing, the firm reported owning 4,894K shares, representing a decrease of 37.98%. The firm decreased its portfolio allocation in FUN by 77.83% over the last quarter.
Bank Of America holds 3,517K shares representing 6.85% ownership of the company. In it's prior filing, the firm reported owning 2,570K shares, representing an increase of 26.92%. The firm increased its portfolio allocation in FUN by 36.38% over the last quarter.
Ing Groep holds 2,799K shares representing 5.45% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 2,003K shares representing 3.90% ownership of the company. In it's prior filing, the firm reported owning 1,430K shares, representing an increase of 28.59%. The firm increased its portfolio allocation in FUN by 43.03% over the last quarter.
Waratah Capital Advisors holds 1,846K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 1,848K shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in FUN by 48.76% over the last quarter.
Cedar Fair Background Information
(This description is provided by the company.)
Cedar Fair Entertainment Company, one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive, and memorable experiences, the Company owns and operates 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair's parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario. The Company also operates an additional theme park in California under a management contract.
Additional reading:
- Cedar Fair Entertainment Company - One Cedar Point Drive, Sandusky, Ohio 44870 419.627.2233
- Cedar Fair Entertainment Company - One Cedar Point Drive, Sandusky, Ohio 44870 419.627.2233
- 2016 Omnibus Incentive Plan Form of Restricted Unit Award Declaration (2023 Employment Agreement Version).
- 2016 Omnibus Incentive Plan Form of Restricted Unit Award Declaration (2023 Severance Plan Version).
- 2016 Omnibus Incentive Plan Form of Performance Unit Award Agreement (2023 Employment Agreement Version).
This story originally appeared on Fintel.
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