Century Casinos (NASDAQ:CNTY) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Century Casinos' shares crossed above the 200-day moving average of $2.10, trading as high as $2.80, which may indicate a potential buying opportunity.
• Analysts have an average rating of "Buy" for Century Casinos, with a consensus price target of $5.00 despite recent earnings reports showing a miss in EPS estimates.
• Institutional investors own 66.36% of Century Casinos' stock, with several firms increasing their stakes in the company over recent quarters.

Century Casinos, Inc. (NASDAQ:CNTY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.10 and traded as high as $2.80. Century Casinos shares last traded at $2.77, with a volume of 35,625 shares traded.

Analyst Ratings Changes

CNTY has been the subject of a number of analyst reports. JMP Securities set a $3.00 price objective on shares of Century Casinos in a research report on Friday, July 18th. Citigroup restated a "market outperform" rating on shares of Century Casinos in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $5.00.

Century Casinos Price Performance

The stock's fifty day moving average price is $2.49 and its 200-day moving average price is $2.10. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.37 and a current ratio of 1.42. The firm has a market cap of $83.16 million, a PE ratio of -0.81 and a beta of 2.02.

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

Institutional Investors Weigh In On Century Casinos

A number of large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. grew its stake in Century Casinos by 6.4% in the 2nd quarter. AWM Investment Company Inc. now owns 2,195,549 shares of the company's stock valued at $4,644,000 after acquiring an additional 132,745 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Century Casinos by 21.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 760,800 shares of the company's stock valued at $1,286,000 after acquiring an additional 132,700 shares during the last quarter. Millennium Management LLC grew its stake in Century Casinos by 7.3% in the 4th quarter. Millennium Management LLC now owns 284,886 shares of the company's stock valued at $923,000 after acquiring an additional 19,406 shares during the last quarter. 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 valued at $252,000 after acquiring an additional 114,431 shares during the last quarter. Finally, Mink Brook Asset Management LLC grew its stake in Century Casinos by 13.3% in the 2nd quarter. Mink Brook Asset Management LLC now owns 136,001 shares of the company's stock valued at $288,000 after acquiring an additional 16,004 shares during the last quarter. 66.36% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.