Short Interest in Cedar Fair, L.P. (NYSE:FUN) Rises By 19.6%

Cedar Fair, L.P. (NYSE:FUN) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,140,000 shares, a growth of 19.6% from the March 15th total of 7,640,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is currently 5.7 days. Currently, 9.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FUN. Stifel Nicolaus cut their target price on Cedar Fair from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Macquarie reissued an “outperform” rating and issued a $55.00 target price on shares of Cedar Fair in a report on Friday, March 7th. StockNews.com cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday, March 6th. Guggenheim decreased their price target on shares of Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price objective on Cedar Fair from $58.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.87.

Cedar Fair Price Performance

Cedar Fair stock opened at $34.49 on Wednesday. Cedar Fair has a 12-month low of $28.02 and a 12-month high of $58.70. 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 firm has a 50-day moving average price of $37.41 and a 200-day moving average price of $42.16. The firm has a market capitalization of $3.46 billion, a PE ratio of -53.89 and a beta of 1.21.

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.