Canterbury Park (NASDAQ:CPHC) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Canterbury Park Holding Corporation (NASDAQ:CPHC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.52 and traded as high as $15.75. Canterbury Park shares last traded at $15.65, with a volume of 2,690 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Canterbury Park from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Canterbury Park Stock Performance

The firm’s fifty day simple moving average is $15.75 and its 200 day simple moving average is $15.52. The stock has a market capitalization of $80.60 million, a P/E ratio of -1,565.00 and a beta of -0.39.

Canterbury Park (NASDAQ:CPHC) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $13.51 million during the quarter. Canterbury Park had a negative net margin of 0.10% and a negative return on equity of 0.07%.

Canterbury Park Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, June 30th. Canterbury Park’s payout ratio is currently -2,800.00%.

Institutional Investors Weigh In On Canterbury Park

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of 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 purchasing an additional 1,536 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Canterbury Park by 0.8% in the 4th 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 last quarter. Finally, Gamco Investors INC. ET AL raised 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 worth $5,852,000 after buying an additional 2,000 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Canterbury Park Company Profile

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.