Cedar Fair (NYSE:FUN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Cedar Fair, L.P. (NYSE:FUN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.97 and traded as high as $45.44. Cedar Fair shares last traded at $44.00, with a volume of 2,290,296 shares.

Analysts Set New Price Targets

FUN has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Cedar Fair in a report on Monday, December 9th. They issued a “buy” rating and a $59.00 price target on the stock. Guggenheim raised their price target on Cedar Fair from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Macquarie reissued an “outperform” rating and issued a $55.00 price target on shares of Cedar Fair in a report on Thursday, November 7th. Finally, Truist Financial lifted their target price on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.54.

Cedar Fair Trading Up 1.5 %

The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -68.74 and a beta of 1.55. The firm has a 50-day moving average price of $45.77 and a 200-day moving average price of $43.99. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95.

Hedge Funds Weigh In On Cedar Fair

A hedge fund recently bought a new stake in Cedar Fair stock. Mutual of America Capital Management LLC bought a new position in Cedar Fair, L.P. (NYSE:FUN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,459 shares of the company’s stock, valued at approximately $260,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.