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

Shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.62 and traded as high as $16.10. Canterbury Park shares last traded at $15.80, with a volume of 5,104 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Canterbury Park from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Canterbury Park Trading Up 1.1%

The firm’s 50-day moving average is $15.83 and its two-hundred day moving average is $15.62. The stock has a market cap of $82.40 million, a price-to-earnings ratio of -1,600.00 and a beta of -0.39.

Canterbury Park (NASDAQ:CPHC) last issued 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 for the quarter.

Canterbury Park Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Canterbury Park by 142.2% during 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 last quarter. Gabelli Funds LLC grew its position in Canterbury Park by 0.8% in the fourth quarter. Gabelli Funds LLC now owns 195,000 shares of the company’s stock worth $3,003,000 after acquiring an additional 1,500 shares during the period. 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. Hedge funds and other institutional investors 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.