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

Shares of Century Casinos, Inc. (NASDAQ:CNTY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.95 and traded as high as $3.16. Century Casinos shares last traded at $3.13, with a volume of 115,366 shares changing hands.

Wall Street Analyst Weigh In

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

Century Casinos Price Performance

The company has a debt-to-equity ratio of 6.58, a quick ratio of 1.74 and a current ratio of 1.79. The business’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $2.95. The stock has a market cap of $96.04 million, a price-to-earnings ratio of -1.29 and a beta of 2.59.

Century Casinos (NASDAQ:CNTY) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). Century Casinos had a negative return on equity of 41.20% and a negative net margin of 12.73%. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $158.10 million. During the same quarter last year, the firm posted ($0.47) EPS. Research analysts predict that Century Casinos, Inc. will post -2.39 EPS for the current fiscal year.

Institutional Trading of Century Casinos

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. acquired a new stake in Century Casinos in the second quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Century Casinos in the 2nd quarter valued at about $103,000. Empowered Funds LLC raised its stake in shares of Century Casinos by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 75,727 shares of the company’s stock valued at $194,000 after purchasing an additional 3,752 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Century Casinos during the second quarter worth about $215,000. Finally, Squarepoint Ops LLC grew its stake in Century Casinos by 64.0% in the second quarter. Squarepoint Ops LLC now owns 117,072 shares of the company’s stock worth $324,000 after purchasing an additional 45,695 shares in the last quarter. Institutional investors and hedge funds own 66.36% of the company’s stock.

About Century Casinos

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.