Canterbury Park (NASDAQ:CPHC) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Canterbury Park Holding Corporation (NASDAQ:CPHC)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.62 and traded as high as $16.10. Canterbury Park shares last traded at $15.80, with a volume of 5,104 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Canterbury Park from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Canterbury Park Trading Down 1.4%

The company’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $15.62. The stock has a market capitalization of $81.37 million, a PE ratio of -1,580.00 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. Canterbury Park had a negative return on equity of 0.07% and a negative net margin of 0.10%.The company had revenue of $13.51 million for the quarter.

Canterbury Park Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, June 30th. Canterbury Park’s dividend payout ratio is presently -2,800.00%.

Hedge Funds Weigh In On Canterbury Park

Several large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its stake in Canterbury Park by 0.5% in 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 during the last quarter. Bank of America Corp DE grew its holdings 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. Finally, Gabelli Funds LLC grew its holdings in 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 buying an additional 1,500 shares during the period. 76.37% of the stock is currently owned by hedge funds and other 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.