Century Casinos (NASDAQ:CNTY) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Century Casinos, Inc. stock recently crossed above its 200-day moving average, trading at $2.62 with a peak of $2.77 during the session.
• Research analysts have given the stock an average rating of "Buy", with a consensus price target of $5.00.
• The company reported a quarterly loss of ($0.40) earnings per share, falling short of analyst expectations while generating revenue of $150.82 million.

Century Casinos, Inc. (NASDAQ:CNTY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.10 and traded as high as $2.77. Century Casinos shares last traded at $2.62, with a volume of 46,945 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNTY shares. Citigroup reiterated a "market outperform" rating on shares of Century Casinos in a research note on Friday, July 18th. JMP Securities set a $3.00 price target on shares of Century Casinos in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Century Casinos currently has an average rating of "Buy" and a consensus price target of $5.00.

Century Casinos Price Performance

The company has a debt-to-equity ratio of 20.62, a current ratio of 1.42 and a quick ratio of 1.37. The stock has a market cap of $78.65 million, a price-to-earnings ratio of -0.76 and a beta of 2.02. The business's 50-day simple moving average is $2.52 and its two-hundred day simple moving average is $2.10.

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

Institutional Trading of Century Casinos

A number of hedge funds have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC boosted its position in Century Casinos by 13.3% in the second quarter. Mink Brook Asset Management LLC now owns 136,001 shares of the company's stock valued at $288,000 after buying an additional 16,004 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Century Casinos by 7.3% during the fourth quarter. Millennium Management LLC now owns 284,886 shares of the company's stock worth $923,000 after purchasing an additional 19,406 shares during the period. XTX Topco Ltd acquired a new position in shares of Century Casinos during the second quarter worth $51,000. Goldman Sachs Group Inc. lifted 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 purchasing an additional 30,998 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Century Casinos by 120.4% during the fourth quarter. Jane Street Group LLC now owns 61,578 shares of the company's stock worth $200,000 after purchasing an additional 33,635 shares during the period. Institutional investors and hedge funds own 66.36% of the company's stock.

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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