Century Casinos (NASDAQ:CNTY) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Century Casinos shares have crossed above their 200-day moving average, with the stock last trading at $2.47, a significant increase from its average of $2.15.
• The company received mixed ratings from analysts, with a consensus of "Moderate Buy" and an average price target of $5.00.
• In its most recent earnings report, Century Casinos posted a loss of ($0.40) EPS, missing analysts' estimates, while reporting revenue of $150.82 million, surpassing expectations.

Century Casinos, Inc. (NASDAQ:CNTY - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.15 and traded as high as $2.61. Century Casinos shares last traded at $2.47, with a volume of 69,246 shares changing hands.

Wall Street Analyst Weigh In

CNTY has been the subject of a number of research analyst reports. Citigroup reaffirmed a "market outperform" rating on shares of Century Casinos in a report on Friday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Century Casinos in a report on Saturday, September 27th. Finally, JMP Securities set a $3.00 price objective on shares of Century Casinos in a research note on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Century Casinos Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.37 and a debt-to-equity ratio of 20.62. The stock's 50 day moving average price is $2.55 and its two-hundred day moving average price is $2.15. The firm has a market capitalization of $74.15 million, a PE ratio of -0.72 and a beta of 2.00.

Century Casinos (NASDAQ:CNTY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The firm had revenue of $150.82 million during the quarter, compared to analysts' expectations of $148.70 million. Century Casinos had a negative return on equity of 72.39% and a negative net margin of 18.43%. On average, equities analysts expect that Century Casinos, Inc. will post -2.66 earnings per share for the current year.

Institutional Trading of Century Casinos

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Century Casinos in the 2nd quarter worth approximately $51,000. Assenagon Asset Management S.A. grew its stake in Century Casinos by 12.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 87,591 shares of the company's stock worth $229,000 after acquiring an additional 9,654 shares during the period. Goldman Sachs Group Inc. grew its stake in Century Casinos by 35.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 117,594 shares of the company's stock worth $199,000 after acquiring an additional 30,998 shares during the period. Mink Brook Asset Management LLC purchased a new stake in Century Casinos in the 1st quarter worth approximately $203,000. Finally, Wealthedge Investment Advisors LLC grew its stake in Century Casinos by 330.9% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 149,014 shares of the company's stock worth $252,000 after acquiring an additional 114,431 shares during the period. 66.36% of the stock is owned by hedge funds and other institutional investors.

About Century Casinos

Century Casinos, Inc operates as a casino entertainment company in the United States, Canada, and Poland. It develops and operates gaming establishments, as well as related lodging, restaurant, and horse racing including, off-track betting; and entertainment facilities. The company was founded in 1992 and is based in Colorado Springs, Colorado.

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