Canterbury Park (NASDAQ:CPHC) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.48 and traded as high as $15.98. Canterbury Park shares last traded at $15.71, with a volume of 2,472 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Canterbury Park in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Canterbury Park Trading Down 0.3%

The company has a 50 day moving average price of $15.65 and a 200 day moving average price of $15.48. The company has a market capitalization of $80.91 million, a price-to-earnings ratio of -1,571.00 and a beta of -0.39.

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

Canterbury Park Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 31st. Canterbury Park’s dividend payout ratio (DPR) is -2,800.00%.

Institutional Investors Weigh In On Canterbury Park

Several hedge funds and other institutional investors have recently made changes to their positions in CPHC. Bank of America Corp DE increased its stake 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 buying an additional 1,536 shares during the period. 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 buying an additional 1,500 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of Canterbury Park by 0.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company’s stock valued at $5,852,000 after buying an additional 2,000 shares during the period. 76.37% of the stock is 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.