Canterbury Park (NASDAQ:CPHC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.68 and traded as high as $15.95. Canterbury Park shares last traded at $15.90, with a volume of 2,387 shares traded.

Wall Street Analysts Forecast Growth

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

Canterbury Park Trading Up 0.6%

The firm has a 50-day simple moving average of $15.72 and a 200-day simple moving average of $15.68. The firm has a market cap of $82.67 million, a P/E ratio of 798.00 and a beta of -0.39.

Canterbury Park (NASDAQ:CPHC) last posted its earnings results on Wednesday, August 12th. The company reported ($0.03) EPS 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 for the quarter.

Canterbury Park Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid 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 presently 1,400.00%.

Hedge Funds Weigh In On Canterbury Park

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of 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. Gabelli Funds LLC raised its holdings 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 purchasing an additional 1,500 shares during the period. Gamco Investors INC. ET AL boosted its position in Canterbury Park by 0.5% during the first 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 in the last quarter. Finally, BlackRock Inc. purchased a new position in Canterbury Park during the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.

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.