Fintel reports that on July 25, 2023, Goldman Sachs maintained coverage of Cedar Fair (NYSE:FUN) with a Buy recommendation.

Analyst Price Forecast Suggests 43.31% Upside

As of July 6, 2023, the average one-year price target for Cedar Fair is 52.85. The forecasts range from a low of 44.44 to a high of $64.05. The average price target represents an increase of 43.31% from its latest reported closing price of 36.88.

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The projected annual revenue for Cedar Fair is 1,855MM, an increase of 2.88%. The projected annual non-GAAP EPS is 2.92.

What is the Fund Sentiment?

There are 190 funds or institutions reporting positions in Cedar Fair. This is a decrease of 4 owner(s) or 2.06% in the last quarter. Average portfolio weight of all funds dedicated to FUN is 0.32%, a decrease of 9.53%. Total shares owned by institutions decreased in the last three months by 8.38% to 35,789K shares. The put/call ratio of FUN is 0.21, indicating a bullish outlook.

What are Other Shareholders Doing?

Goldman Sachs Group holds 3,547K shares representing 6.91% ownership of the company. In it’s prior filing, the firm reported owning 4,894K shares, representing a decrease of 37.98%. The firm decreased its portfolio allocation in FUN by 77.83% over the last quarter.

Bank Of America holds 3,517K shares representing 6.85% ownership of the company. In it’s prior filing, the firm reported owning 2,570K shares, representing an increase of 26.92%. The firm increased its portfolio allocation in FUN by 36.38% over the last quarter.

Ing Groep holds 2,799K shares representing 5.45% ownership of the company. No change in the last quarter.

Jpmorgan Chase holds 2,003K shares representing 3.90% ownership of the company. In it’s prior filing, the firm reported owning 1,430K shares, representing an increase of 28.59%. The firm increased its portfolio allocation in FUN by 43.03% over the last quarter.

Waratah Capital Advisors holds 1,846K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 1,848K shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in FUN by 48.76% 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.

This article originally appeared on Fintel

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