Century Casinos (NASDAQ:CNTY) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Century Casinos' stock (NASDAQ:CNTY) has surpassed its 200-day moving average, reaching a high of $2.74 and last trading at $2.66 with a volume of 39,250 shares.
• The company reported a quarterly earnings per share of ($0.40), which missed analyst estimates, despite revenue of $150.82 million exceeding expectations.
• Analysts maintain a bullish outlook on Century Casinos, with a consensus "Buy" rating and an average price target of $5.00, backed by several recent price targets set by research firms.

Century Casinos, Inc. (NASDAQ:CNTY - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.12 and traded as high as $2.74. Century Casinos shares last traded at $2.66, with a volume of 39,250 shares.

Wall Street Analysts Forecast Growth

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

Century Casinos Price Performance

The firm has a 50-day simple moving average of $2.42 and a 200-day simple moving average of $2.13. 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 firm has a market cap of $83.46 million, a P/E ratio of -0.81 and a beta of 2.02.

Century Casinos (NASDAQ:CNTY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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, analysts forecast that Century Casinos, Inc. will post -2.66 EPS for the current year.

Hedge Funds Weigh In On Century Casinos

Several hedge funds and other institutional investors have recently made changes to their positions in CNTY. Mink Brook Asset Management LLC boosted its stake in Century Casinos by 13.3% during the 2nd quarter. Mink Brook Asset Management LLC now owns 136,001 shares of the company's stock worth $288,000 after purchasing an additional 16,004 shares during the last quarter. AWM Investment Company Inc. grew its stake in shares of Century Casinos by 6.4% in the second quarter. AWM Investment Company Inc. now owns 2,195,549 shares of the company's stock valued at $4,644,000 after buying an additional 132,745 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Century Casinos in the second quarter valued at approximately $51,000. Goldman Sachs Group Inc. raised its holdings in Century Casinos by 35.8% in the first quarter. Goldman Sachs Group Inc. now owns 117,594 shares of the company's stock valued at $199,000 after acquiring an additional 30,998 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC raised its stake in Century Casinos by 330.9% in the first 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 in the last quarter. Hedge funds and other institutional investors own 66.36% of the company's stock.

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.