Canterbury Park Holding Corporation (NASDAQ:CPHC) Short Interest Up 129.7% in August

Canterbury Park Holding Corporation (NASDAQ:CPHC) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 5,915 shares, a growth of 129.7% from the August 15th total of 2,575 shares. Based on an average trading volume of 2,194 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Canterbury Park

Several hedge funds have recently added to or reduced their stakes in CPHC. BlackRock Inc. bought a new position in Canterbury Park during the 2nd quarter worth $166,000. Gamco Investors INC. ET AL lifted its holdings in shares of 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 buying an additional 2,000 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of 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 acquiring an additional 1,500 shares during the period. 76.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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.com, the company currently has an average rating of “Sell”.

Canterbury Park Stock Performance

Shares of CPHC stock traded down $0.11 during midday trading on Tuesday, hitting $15.77. 522 shares of the company were exchanged, compared to its average volume of 1,788. Canterbury Park has a 52 week low of $14.39 and a 52 week high of $17.43. The firm has a market capitalization of $81.74 million, a P/E ratio of 788.50 and a beta of -0.39. The firm’s 50 day moving average price is $15.72 and its two-hundred day moving average price is $15.70.

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

Canterbury Park Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Canterbury Park’s dividend payout ratio (DPR) is 1,400.00%.

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.