Century Casinos (NASDAQ:CNTY) Shares Cross Above 200 Day Moving Average – Here’s Why

Century Casinos, Inc. (NASDAQ:CNTY) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.99 and traded as high as $3.06. Century Casinos shares last traded at $2.95, with a volume of 119,273 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNTY. JMP Securities raised shares of Century Casinos from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Tuesday, November 5th. StockNews.com raised shares of Century Casinos from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Craig Hallum started coverage on Century Casinos in a report on Tuesday, November 26th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on Century Casinos from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Century Casinos Stock Performance

The company has a quick ratio of 1.74, a current ratio of 1.79 and a debt-to-equity ratio of 6.58. The firm has a market cap of $88.98 million, a price-to-earnings ratio of -1.19 and a beta of 2.64. The business’s 50-day simple moving average is $3.80 and its two-hundred day simple moving average is $2.99.

Century Casinos (NASDAQ:CNTY) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The business had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $158.10 million. Century Casinos had a negative return on equity of 41.20% and a negative net margin of 12.73%. During the same quarter in the prior year, the company posted ($0.47) EPS. As a group, sell-side analysts expect that Century Casinos, Inc. will post -2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Casinos

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. acquired a new stake in shares of Century Casinos in the second quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Century Casinos in the 2nd quarter valued at about $103,000. Empowered Funds LLC boosted its holdings in Century Casinos by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 75,727 shares of the company’s stock worth $194,000 after buying an additional 3,752 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Century Casinos during the 2nd quarter worth approximately $215,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Century Casinos by 64.0% during the second quarter. Squarepoint Ops LLC now owns 117,072 shares of the company’s stock valued at $324,000 after acquiring an additional 45,695 shares during the last quarter. 66.36% of the stock is currently owned by institutional investors and hedge funds.

Century Casinos Company Profile

Century Casinos, Inc operates as a casino entertainment company in the United States, Canada, and Poland. It develops and operates gaming establishments, as well as related lodging, restaurant, and horse racing including, off-track betting; and entertainment facilities. The company was founded in 1992 and is based in Colorado Springs, Colorado.