Canterbury Park Holding Corporation (NASDAQ:CPHC) Sees Significant Drop in Short Interest

Canterbury Park Holding Corporation (NASDAQ:CPHC) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 1,383 shares, a drop of 69.4% from the May 14th total of 4,527 shares. Based on an average daily volume of 2,396 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Canterbury Park

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL increased 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 worth $5,852,000 after buying an additional 2,000 shares during the period. Bank of America Corp DE increased its stake in Canterbury Park by 142.2% in the 2nd quarter. Bank of America Corp DE now owns 2,616 shares of the company’s stock worth $49,000 after buying an additional 1,536 shares during the period. Finally, Gabelli Funds LLC increased its stake in Canterbury Park by 0.8% in the 4th quarter. Gabelli Funds LLC now owns 195,000 shares of the company’s stock worth $3,003,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Canterbury Park from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Canterbury Park Price Performance

Shares of CPHC traded up $0.07 during midday trading on Thursday, hitting $15.85. The stock had a trading volume of 1,842 shares, compared to its average volume of 1,523. Canterbury Park has a 1 year low of $14.39 and a 1 year high of $21.61. The firm has a market cap of $81.63 million, a PE ratio of -1,585.00 and a beta of -0.39. The stock’s 50 day moving average is $15.70 and its 200 day moving average is $15.50.

Canterbury Park (NASDAQ:CPHC) last announced its 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 business had revenue of $13.51 million for the quarter.

Canterbury Park Company Profile

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.