Cedar Fair L.P. [NYSE: FUN] surged by $1.5 during the normal trading session on Friday and reaching a high of $41.57 during the day while it closed the day at $41.36. The company report on June 2, 2022 that Cedar Fair Reports Record Revenues Through the Memorial Day Weekend.
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Company continues to see strength in long-lead indicators, including sales of all-season products and reservations at its resort properties.
Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today reported that preliminary year-to-date net revenues through Monday, May 30, 2022, increased 21%, or $60 million, to a record $343 million when compared with the five-month period ended Monday, June 3, 2019. Given the material impact the coronavirus pandemic had on park operations in 2020 and 2021, results for the five months ended May 30, 2022 are not directly comparable to the first five months of the last two years.
Cedar Fair L.P. stock has also loss -10.09% of its value over the past 7 days. However, FUN stock has declined by -25.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.74% and lost -17.38% year-on date.
The market cap for FUN stock reached $2.27 billion, with 56.68 million shares outstanding and 56.18 million shares in the current float. Compared to the average trading volume of 363.00K shares, FUN reached a trading volume of 247776 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Cedar Fair L.P. [FUN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FUN shares is $70.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FUN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Rosenblatt have made an estimate for Cedar Fair L.P. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on February 10, 2022, representing the official price target for Cedar Fair L.P. stock. Previously, the target price had yet another raise to $66, while Deutsche Bank analysts kept a Buy rating on FUN stock. On November 05, 2020, analysts increased their price target for FUN shares from 35 to 40.
The Average True Range (ATR) for Cedar Fair L.P. is set at 2.16, with the Price to Sales ratio for FUN stock in the period of the last 12 months amounting to 1.59. Price to Free Cash Flow for FUN in the course of the last twelve months was 20.41 with Quick ratio for the last quarter at 0.60.
FUN stock trade performance evaluation
Cedar Fair L.P. [FUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.09. With this latest performance, FUN shares dropped by -10.82% in over the last four-week period, additionally sinking by -13.74% over the last 6 months – not to mention a drop of -7.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FUN stock in for the last two-week period is set at 35.50, with the RSI for the last a single of trading hit 33.99, and the three-weeks RSI is set at 36.76 for Cedar Fair L.P. [FUN]. The present Moving Average for the last 50 days of trading for this stock 49.24, while it was recorded at 41.69 for the last single week of trading, and 49.75 for the last 200 days.
Cedar Fair L.P. [FUN]: An insightful look at the core fundamentals
Cedar Fair L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
Earnings per share (EPS) analysis for Cedar Fair L.P. [FUN] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FUN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cedar Fair L.P. go to -2.12%.
Cedar Fair L.P. [FUN]: Insider Ownership positions
There are presently around $1,597 million, or 67.40% of FUN stock, in the hands of institutional investors. The top three institutional holders of FUN stocks are: GOLDMAN SACHS GROUP INC with ownership of 4,989,597, which is approximately 0.471% of the company’s market cap and around 1.40% of the total institutional ownership; MORGAN STANLEY, holding 4,762,758 shares of the stock with an approximate value of $196.99 million in FUN stocks shares; and BANK OF AMERICA CORP /DE/, currently with $126.1 million in FUN stock with ownership of nearly 2.474% of the company’s market capitalization.
61 institutional holders increased their position in Cedar Fair L.P. [NYSE:FUN] by around 5,456,492 shares. Additionally, 81 investors decreased positions by around 2,886,842 shares, while 73 investors held positions by with 30,258,877 shares. The mentioned changes placed institutional holdings at 38,602,211 shares, according to the latest SEC report filing. FUN stock had 27 new institutional investments in for a total of 629,102 shares, while 28 institutional investors sold positions of 1,545,435 shares during the same period.