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

Key Points

• Canterbury Park shares moved above their 200-day moving average, reaching $15.89 and last trading at $15.87, up 0.8% on the day. Trading volume was light at 773 shares.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell,” and the sole analyst covering it also rates it “Sell.” The company reported a quarterly loss of $0.03 per share on $16.17 million in revenue.
• Canterbury Park declared a quarterly dividend of $0.07 per share, equivalent to an annualized $0.28 dividend and a 1.8% yield. Institutional investors own 76.37% of the company, including increased positions from Bank of America, Gabelli Funds, and Gamco Investors.

Canterbury Park Holding Corporation (NASDAQ:CPHC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.66 and traded as high as $15.89. Canterbury Park shares last traded at $15.87, with a volume of 773 shares traded.

Analyst Upgrades and Downgrades

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

Canterbury Park Stock Up 0.8%

The business's 50-day simple moving average is $15.72 and its two-hundred day simple moving average is $15.66. The firm has a market cap of $82.21 million, a price-to-earnings ratio of 793.50 and a beta of -0.39.

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

Canterbury Park Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Canterbury Park's dividend payout ratio is currently 1,400.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CPHC. Bank of America Corp DE grew 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 acquiring an additional 1,536 shares during the period. BlackRock Inc. purchased a new position in Canterbury Park during the second quarter valued at $166,000. Gabelli Funds LLC grew its position in shares of 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 purchasing an additional 1,500 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of Canterbury Park by 0.5% in 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 during the period. Hedge funds and other institutional investors own 76.37% of the company's stock.

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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