Canterbury Park (NASDAQ:CPHC) Shares Pass Above 200-Day Moving Average – Here’s Why

Canterbury Park Holding Corporation (NASDAQ:CPHC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.70 and traded as high as $15.91. Canterbury Park shares last traded at $15.85, with a volume of 1,178 shares traded.

Wall Street Analyst Weigh In

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, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Canterbury Park Stock Down 0.9%

The company’s 50-day moving average is $15.72 and its 200-day moving average is $15.70. The stock has a market capitalization of $82.10 million, a price-to-earnings ratio of 792.50 and a beta of -0.39.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPHC. Bank of America Corp DE grew its position 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 worth $49,000 after acquiring an additional 1,536 shares during the period. BlackRock Inc. acquired a new position in shares of Canterbury Park in the 2nd quarter valued at $166,000. Gabelli Funds LLC lifted 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 purchasing an additional 1,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Canterbury Park by 0.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 375,393 shares of the company’s stock worth $5,852,000 after purchasing an additional 2,000 shares during the period. 76.37% of the stock is currently 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.