Fintel reports that on April 21, 2023, Morgan Stanley reiterated coverage of Cedar Fair (NYSE:FUN) with a Overweight recommendation.
Analyst Price Forecast Suggests 33.12% 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 33.12% from its latest reported closing price of $41.28.
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 is the Fund Sentiment?
There are 195 funds or institutions reporting positions in Cedar Fair. This is a decrease of 13 owner(s) or 6.25% in the last quarter. Average portfolio weight of all funds dedicated to FUN is 0.35%, an increase of 4.64%. Total shares owned by institutions decreased in the last three months by 1.06% to 39,067K shares. The put/call ratio of FUN is 0.03, indicating a bullish outlook.
What are Other Shareholders Doing?
Goldman Sachs Group holds 4,894K shares representing 9.50% ownership of the company. In it’s prior filing, the firm reported owning 4,792K shares, representing an increase of 2.09%. The firm decreased its portfolio allocation in FUN by 0.65% over the last quarter.
Natixis holds 3,072K shares representing 5.96% ownership of the company. In it’s prior filing, the firm reported owning 1,536K shares, representing an increase of 50.00%. The firm increased its portfolio allocation in FUN by 140.83% over the last quarter.
Ing Groep holds 2,799K shares representing 5.43% ownership of the company. No change in the last quarter.
Bank Of America holds 2,570K shares representing 4.99% ownership of the company. In it’s prior filing, the firm reported owning 4,166K shares, representing a decrease of 62.10%. The firm decreased its portfolio allocation in FUN by 40.94% over the last quarter.
Centerbridge Partners holds 2,450K shares representing 4.76% ownership of the company. In it’s prior filing, the firm reported owning 2,965K shares, representing a decrease of 21.05%. The firm decreased its portfolio allocation in FUN by 43.41% over the last quarter.
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.
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