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Fintel reports that on April 20, 2023, Morgan Stanley initiated coverage of Cedar Fair (NYSE:FUN) with a Overweight recommendation.
Analyst Price Forecast Suggests 31.59% Upside
As of April 6, 2023, the average one-year price target for Cedar Fair is $54.95. The forecasts range from a low of $45.45 to a high of $64.05. The average price target represents an increase of 31.59% from its latest reported closing price of $41.76.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cedar Fair is $1,855MM, an increase of 2.07%. The projected annual non-GAAP EPS is $2.92.
What are Other Shareholders Doing?
Amundi holds 152K shares representing 0.29% ownership of the company. No change in the last quarter.
Pin Oak Investment Advisors holds 7K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 8K shares, representing a decrease of 11.08%. The firm decreased its portfolio allocation in FUN by 11.29% over the last quarter.
THRIVENT SERIES FUND INC – Thrivent Balanced Income Plus Portfolio holds 5K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 5K shares, representing an increase of 2.32%. The firm increased its portfolio allocation in FUN by 1.53% over the last quarter.
First Republic Investment Management holds 7K shares representing 0.01% ownership of the company. No change in the last quarter.
Stifel Financial holds 17K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 17K shares, representing an increase of 0.44%. The firm decreased its portfolio allocation in FUN by 99.98% over the last quarter.
What is the Fund Sentiment?
There are 195 funds or institutions reporting positions in Cedar Fair. This is a decrease of 14 owner(s) or 6.70% in the last quarter. Average portfolio weight of all funds dedicated to FUN is 0.35%, an increase of 9.74%. Total shares owned by institutions decreased in the last three months by 1.08% to 39,067K shares. 
The put/call ratio of FUN is 0.03, indicating a bullish outlook.
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.
See all Cedar Fair regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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