Cedar Fair (NYSE:FUN) Reaches New 12-Month Low – Should You Sell?

Shares of Cedar Fair, L.P. (NYSE:FUN) reached a new 52-week low on Monday . The company traded as low as $34.75 and last traded at $35.87, with a volume of 1179158 shares traded. The stock had previously closed at $37.64.

Analyst Ratings Changes

Several research analysts have commented on FUN shares. Citigroup boosted their price target on shares of Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Truist Financial increased their target price on Cedar Fair from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Macquarie reaffirmed an “outperform” rating and set a $55.00 price target on shares of Cedar Fair in a report on Friday, March 7th. Guggenheim lowered their price objective on Cedar Fair from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday, March 6th. 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’s stock. According to MarketBeat, Cedar Fair has a consensus rating of “Moderate Buy” and an average target price of $56.15.

Cedar Fair Stock Up 2.5 %

The company has a market cap of $3.55 billion, a PE ratio of -55.26 and a beta of 1.54. The firm has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $43.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.40 and a quick ratio of 0.32.

Institutional Investors 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 stake in Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,459 shares of the company’s stock, valued at approximately $260,000. Institutional investors own 64.65% of the company’s stock.

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.