Century Casinos (NASDAQ:CNTY) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

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) passed 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.

Analysts Set New Price Targets

A number of equities analysts have commented on CNTY shares. JMP Securities set a $3.00 target price on Century Casinos in a report on Friday, July 18th. Citigroup reissued a "market outperform" rating on shares of Century Casinos in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Century Casinos has a consensus rating of "Buy" and a consensus price target of $5.00.

Century Casinos Stock Up 1.1%

The company has a market capitalization of $81.35 million, a PE ratio of -0.79 and a beta of 2.02. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 20.62. The firm has a 50-day moving average of $2.51 and a two-hundred day moving average of $2.10.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mink Brook Asset Management LLC boosted its position in shares of Century Casinos by 13.3% during the second quarter. Mink Brook Asset Management LLC now owns 136,001 shares of the company's stock worth $288,000 after buying an additional 16,004 shares during the period. AWM Investment Company Inc. boosted its position in shares of Century Casinos by 6.4% during the second quarter. AWM Investment Company Inc. now owns 2,195,549 shares of the company's stock worth $4,644,000 after buying an additional 132,745 shares during the period. XTX Topco Ltd purchased a new position in shares of Century Casinos during the second quarter worth $51,000. Goldman Sachs Group Inc. boosted its position in shares of Century Casinos by 35.8% during the first quarter. Goldman Sachs Group Inc. now owns 117,594 shares of the company's stock worth $199,000 after buying an additional 30,998 shares during the period. Finally, Wealthedge Investment Advisors LLC boosted its position in shares of Century Casinos by 330.9% during the first quarter. Wealthedge Investment Advisors LLC now owns 149,014 shares of the company's stock worth $252,000 after buying an additional 114,431 shares during the period. 66.36% of the stock is currently 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.