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

Canterbury Park Holding Corporation (NASDAQ:CPHC)’s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $15.73 and traded as high as $15.99. Canterbury Park shares last traded at $15.86, with a volume of 709 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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 stock presently has an average rating of “Sell”.

Canterbury Park Price Performance

The company’s fifty day simple moving average is $15.76 and its two-hundred day simple moving average is $15.73. The stock has a market cap of $82.52 million, a price-to-earnings ratio of 796.50 and a beta of -0.40.

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

Canterbury Park Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.28 annualized dividend and a yield of 1.8%. Canterbury Park’s payout ratio is 1,400.00%.

Hedge Funds Weigh In On Canterbury Park

A hedge fund recently bought a new stake in Canterbury Park stock. BlackRock Inc. purchased a new position in shares of Canterbury Park Holding Corporation (NASDAQ:CPHC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,546 shares of the company’s stock, valued at approximately $166,000. BlackRock Inc. owned 0.20% of Canterbury Park at the end of the most recent quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

About Canterbury Park

Canterbury Park Holding Corporation owns and operates Canterbury Park, a horse-racing and entertainment complex in Shakopee, Minnesota. The facility hosts live thoroughbred and quarter-horse racing during its seasonal racing calendar and offers pari-mutuel wagering, simulcast racing, and related racing activities.

In addition to horse racing, Canterbury Park provides card gaming, dining, special events, concerts, and other entertainment offerings. Its event facilities are used for corporate functions, weddings, festivals, and community gatherings.