Canterbury Park (NASDAQ:CPHC) Stock Breaks Below 200-Day Moving Average – Should You Sell?

Shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $15.71 and traded as low as $15.60. Canterbury Park shares last traded at $15.6750, with a volume of 894 shares trading hands.

Analysts Set New Price Targets

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

Canterbury Park Stock Performance

The company’s fifty day moving average is $15.67 and its 200-day moving average is $15.71. The company has a market capitalization of $81.05 million, a PE ratio of 782.30 and a beta of -0.40.

Canterbury Park (NASDAQ:CPHC) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter. The firm 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 will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.28 annualized dividend and a yield of 1.8%. Canterbury Park’s dividend payout ratio is currently 1,400.00%.

Institutional Investors Weigh In On Canterbury Park

A hedge fund recently bought a new stake in Canterbury Park stock. BlackRock Inc. acquired a new stake in Canterbury Park Holding Corporation (NASDAQ:CPHC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,546 shares of the company’s stock, valued at approximately $166,000. BlackRock Inc. owned approximately 0.20% of Canterbury Park as of its most recent SEC filing. 76.37% of the stock is owned by institutional investors.

About Canterbury Park

Canterbury Park Holding Corporation owns and operates Canterbury Park, a horse-racing and entertainment destination in Shakopee, Minnesota. The company’s primary business is conducted through its Canterbury Park facility, which hosts live thoroughbred and quarter-horse racing during a seasonal racing meet.

In addition to live racing, Canterbury Park offers pari-mutuel wagering, simulcast wagering on races from other tracks, and a card casino featuring table games. The property also provides dining, concessions, special events, concerts and other entertainment activities.