Canterbury Park (NASDAQ:CPHC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Canterbury Park Holding Corporation (NASDAQ:CPHC)’s share price crossed 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Canterbury Park from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Canterbury Park Stock Up 0.3%

The business’s fifty day moving average is $15.72 and its 200 day moving average is $15.67. The stock has a market cap of $82.41 million, a PE ratio of 795.50 and a beta of -0.39.

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

Canterbury Park Announces Dividend

The company also recently announced 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. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, June 30th. Canterbury Park’s payout ratio is presently 1,400.00%.

Institutional Trading of Canterbury Park

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Canterbury Park during the 2nd quarter worth $166,000. Gamco Investors INC. ET AL grew 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 valued at $5,852,000 after acquiring an additional 2,000 shares during the last quarter. Bank of America Corp DE increased its holdings in Canterbury Park by 142.2% during 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 in the last quarter. Finally, Gabelli Funds LLC increased its holdings in Canterbury Park by 0.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds 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.