Canterbury Park (NASDAQ:CPHC) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canterbury Park shares crossed above their 200-day moving average, reaching $15.91 before closing at $15.85, compared with the $15.70 average. Trading volume was light at 1,178 shares.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock’s “sell” rating, and the company has a consensus rating of “Sell.”
• Canterbury Park reported a quarterly loss of $0.03 per share on $16.17 million in revenue. Institutional investors own 76.37% of the company, with several firms recently increasing or initiating positions.

Canterbury Park Holding Corporation (NASDAQ:CPHC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.70 and traded as high as $15.91. Canterbury Park shares last traded at $15.85, with a volume of 1,178 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Canterbury Park from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Canterbury Park has a consensus rating of "Sell".

Canterbury Park Stock Down 0.9%

The stock has a market capitalization of $82.10 million, a price-to-earnings ratio of 792.50 and a beta of -0.39. The firm has a 50-day moving average of $15.72 and a two-hundred day moving average of $15.70.

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

Institutional Trading of Canterbury Park

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Canterbury Park by 142.2% in the 2nd quarter. Bank of America Corp DE now owns 2,616 shares of the company's stock valued at $49,000 after buying an additional 1,536 shares during the period. BlackRock Inc. acquired a new stake in shares of Canterbury Park during the 2nd quarter valued at $166,000. Gabelli Funds LLC boosted its stake in shares of Canterbury Park by 0.8% during the 4th quarter. Gabelli Funds LLC now owns 195,000 shares of the company's stock valued at $3,003,000 after buying an additional 1,500 shares during the period. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Canterbury Park by 0.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company's stock valued at $5,852,000 after acquiring an additional 2,000 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

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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