Canterbury Park Holding Corporation (NASDAQ:CPHC) Short Interest Update

Key Points

• Short interest in Canterbury Park Holding jumped sharply in June, rising 107.8% to 3,241 shares as of June 30. Even so, short interest remains very small at about 0.1% of shares outstanding, with a short-interest ratio of 0.9 days.
• The stock traded up to $16.08 on Wednesday, sitting between its 52-week low of $14.39 and high of $18.99. Canterbury Park also reported modest quarterly results earlier this year, with EPS of $0.03 on revenue of $13.51 million.
• The company paid a quarterly dividend of $0.07 per share on July 14, implying an annualized yield of 1.7%. Institutional ownership remains high, with hedge funds and other institutions holding about 76.37% of the stock.

Canterbury Park Holding Corporation (NASDAQ:CPHC - Get Free Report) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 3,241 shares, a growth of 107.8% from the June 15th total of 1,560 shares. Based on an average trading volume of 3,457 shares, the short-interest ratio is currently 0.9 days. Approximately 0.1% of the company's stock are short sold.

Canterbury Park Stock Performance

NASDAQ CPHC traded up $0.26 on Wednesday, reaching $16.08. The stock had a trading volume of 1,894 shares, compared to its average volume of 1,785. Canterbury Park has a 12-month low of $14.39 and a 12-month high of $18.99. The business's 50-day moving average price is $15.83 and its 200 day moving average price is $15.62. The stock has a market cap of $82.81 million, a P/E ratio of -1,608.00 and a beta of -0.39.

Canterbury Park (NASDAQ:CPHC - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $13.51 million for the quarter. Canterbury Park had a negative net margin of 0.10% and a negative return on equity of 0.07%.

Canterbury Park Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Canterbury Park's dividend payout ratio is currently -2,800.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Canterbury Park by 142.2% during the second quarter. Bank of America Corp DE now owns 2,616 shares of the company's stock worth $49,000 after buying an additional 1,536 shares during the period. Gamco Investors INC. ET AL increased its position in Canterbury Park by 0.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company's stock valued at $5,852,000 after acquiring an additional 2,000 shares during the period. Finally, Gabelli Funds LLC increased its position in Canterbury Park by 0.8% in the 4th quarter. Gabelli Funds LLC now owns 195,000 shares of the company's stock valued at $3,003,000 after acquiring an additional 1,500 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Canterbury Park from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

About Canterbury Park

Canterbury Park Holding Corp. engages in hosting and managing pari mutuel wagering activities. It operates through the following business segments: Horse Racing, Card Casino, Food & Beverage and Development. The Horse Racing segment includes simulcast and live horse racing operations. The Card Casino segment holds unbanked card games, poker and table games. The Food and Beverage segment consists of concession stands, restaurant and buffet, bars, and other food venues. The Development segment owns land for racetrack operations.

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