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

Shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) passed 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.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Canterbury Park from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Canterbury Park Price Performance

The firm has a market capitalization of $80.60 million, a P/E ratio of -1,565.00 and a beta of -0.39. The company’s 50 day moving average is $15.75 and its 200-day moving average is $15.53.

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

Canterbury Park Announces Dividend

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

Institutional Trading of Canterbury Park

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL boosted its holdings in Canterbury Park by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company’s stock worth $5,852,000 after acquiring an additional 2,000 shares in the last quarter. Gabelli Funds LLC grew its stake in 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 acquiring an additional 1,500 shares during the period. Finally, Bank of America Corp DE grew its stake in Canterbury Park by 142.2% in the second 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. 76.37% of the stock is owned by institutional investors.

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.