Century Casinos (NASDAQ:CNTY) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Century Casinos' stock has surpassed its 200-day moving average, trading at $2.56 on a volume of 33,470 shares.
• The company's earnings report indicated a miss in expectations, with a net loss of ($0.67) per share, falling short of the estimated ($0.56).
• Securities analysts maintain a consensus rating of Moderate Buy for the stock, with an average price target of $5.00.

Century Casinos, Inc. (NASDAQ:CNTY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.24 and traded as high as $2.56. Century Casinos shares last traded at $2.56, with a volume of 33,470 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNTY. Citigroup restated a "market outperform" rating on shares of Century Casinos in a report on Friday, July 18th. JMP Securities set a $3.00 price target on Century Casinos in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Century Casinos from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Century Casinos presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Century Casinos Price Performance

The company has a debt-to-equity ratio of 16.39, a quick ratio of 1.38 and a current ratio of 1.42. The firm has a market cap of $77.01 million, a P/E ratio of -0.57 and a beta of 2.15. The company has a 50-day moving average of $2.26 and a 200 day moving average of $2.23.

Century Casinos (NASDAQ:CNTY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.11). The business had revenue of $130.44 million during the quarter, compared to analyst estimates of $139.55 million. Century Casinos had a negative return on equity of 81.24% and a negative net margin of 23.71%. During the same period in the prior year, the firm posted ($0.46) EPS. On average, sell-side analysts anticipate that Century Casinos, Inc. will post -2.66 EPS for the current year.

Hedge Funds Weigh In On Century Casinos

A number of hedge funds and other institutional investors have recently made changes to their positions in CNTY. Goldman Sachs Group Inc. grew its holdings 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 in the last quarter. AWM Investment Company Inc. lifted its position in shares of Century Casinos by 22.3% in the first quarter. AWM Investment Company Inc. now owns 2,062,804 shares of the company's stock valued at $3,486,000 after buying an additional 375,761 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in shares of Century Casinos in the first quarter valued at approximately $203,000. 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 buying an additional 114,431 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Century Casinos by 21.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 760,800 shares of the company's stock worth $1,286,000 after purchasing an additional 132,700 shares during the last quarter. 66.36% of the stock is owned by institutional investors.

Century Casinos Company Profile

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.