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

Canterbury Park Holding Corporation (NASDAQ:CPHC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 3,241 shares, an increase of 107.8% from the June 15th total of 1,560 shares. Based on an average daily volume of 3,457 shares, the short-interest ratio is currently 0.9 days. Currently, 0.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Canterbury Park Stock Up 0.8%

Shares of CPHC traded up $0.13 during mid-day trading on Friday, hitting $15.93. 2,940 shares of the company traded hands, compared to its average volume of 1,805. The company has a market capitalization of $82.04 million, a PE ratio of -1,593.00 and a beta of -0.39. The business has a 50 day moving average of $15.84 and a 200 day moving average of $15.63. Canterbury Park has a 1-year low of $14.39 and a 1-year high of $18.65.

Canterbury Park (NASDAQ:CPHC) last released its earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter. The company had revenue of $13.51 million during the quarter. Canterbury Park had a negative net margin of 0.10% and a negative return on equity of 0.07%.

Canterbury Park Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors 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 of this dividend was Tuesday, June 30th. Canterbury Park’s dividend payout ratio is presently -2,800.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake 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 purchasing an additional 1,536 shares during the last quarter. Gabelli Funds LLC boosted 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 valued at $3,003,000 after buying an additional 1,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings 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. 76.37% of the stock is owned by institutional investors and hedge funds.

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.