Canterbury Park (NASDAQ:CPHC) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Canterbury Park shares moved above their 200-day moving average, trading as high as $16.10 before ending near $15.80 on light volume. The stock’s 200-day average is $15.62.
• Analyst sentiment remains weak: Weiss Ratings recently upgraded the stock only from “sell (d)” to “sell (d+),” and MarketBeat shows an average rating of Sell.
• The company recently reported modest quarterly earnings of $0.03 per share on $13.51 million in revenue, and it announced a quarterly dividend of $0.07 per share, or $0.28 annualized for a 1.8% yield.

Canterbury Park Holding Corporation (NASDAQ:CPHC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.62 and traded as high as $16.10. Canterbury Park shares last traded at $15.80, with a volume of 5,104 shares changing hands.

Analyst Upgrades and Downgrades

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

Canterbury Park Stock Down 1.4%

The company has a market cap of $81.37 million, a PE ratio of -1,580.00 and a beta of -0.39. The firm's fifty day simple moving average is $15.82 and its 200-day simple moving average is $15.62.

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

Canterbury Park Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Canterbury Park's dividend payout ratio is presently -2,800.00%.

Hedge Funds Weigh In On Canterbury Park

Several hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in shares of Canterbury Park by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company's stock worth $5,852,000 after acquiring an additional 2,000 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Canterbury Park by 0.8% in the fourth 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 in the last quarter. Finally, 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 valued at $49,000 after acquiring an additional 1,536 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company's stock.

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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