Canterbury Park Holding Corporation (NASDAQ:CPHC) Short Interest Update

Key Points

• Short interest surged 129.7% at Canterbury Park between August 15 and August 31, reaching 5,915 shares. Short interest represents approximately 0.1% of shares outstanding, with a days-to-cover ratio of 2.7.
• Institutional investors own 76.37% of the company. BlackRock initiated a position, while Bank of America increased its holdings by 142.2% and other institutions made smaller additions.
• The stock carries an overall “Sell” rating from the one analyst covering it, after Weiss Ratings downgraded the shares. Canterbury Park recently reported a quarterly loss of $0.03 per share on $16.17 million in revenue.

Canterbury Park Holding Corporation (NASDAQ:CPHC - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 5,915 shares, a growth of 129.7% from the August 15th total of 2,575 shares. Based on an average trading volume of 2,194 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Canterbury Park during the second quarter worth approximately $166,000. Gamco Investors INC. ET AL boosted its stake in shares of Canterbury Park by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company's stock valued at $5,852,000 after purchasing an additional 2,000 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Canterbury Park by 142.2% during the second quarter. Bank of America Corp DE now owns 2,616 shares of the company's stock worth $49,000 after purchasing an additional 1,536 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Canterbury Park by 0.8% in the fourth quarter. Gabelli Funds LLC now owns 195,000 shares of the company's stock valued at $3,003,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 76.37% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Canterbury Park from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Canterbury Park Stock Performance

NASDAQ:CPHC opened at $15.85 on Monday. The company has a 50-day moving average of $15.72 and a 200-day moving average of $15.70. The company has a market capitalization of $82.10 million, a price-to-earnings ratio of 792.50 and a beta of -0.39. Canterbury Park has a 52 week low of $14.39 and a 52 week high of $17.43.

Canterbury Park (NASDAQ:CPHC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. Canterbury Park had a net margin of 0.20% and a return on equity of 0.14%. The firm had revenue of $16.17 million for the quarter.

About Canterbury Park

Canterbury Park Holding Corp. engages in hosting and managing pari mutuel wagering activities. It operates through the following business segments: Horse Racing, Card Casino, Food & Beverage and Development. The Horse Racing segment includes simulcast and live horse racing operations. The Card Casino segment holds unbanked card games, poker and table games. The Food and Beverage segment consists of concession stands, restaurant and buffet, bars, and other food venues. The Development segment owns land for racetrack operations.

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