Century Casinos (NASDAQ:CNTY) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Century Casinos, Inc. (NASDAQ:CNTY) 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

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Century Casinos from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Craig Hallum initiated coverage on Century Casinos in a research note on Tuesday, November 26th. They set a “buy” rating and a $8.00 price target on the stock. JMP Securities raised Century Casinos from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus upped their target price on Century Casinos from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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 company has a 50-day moving average of $3.81 and a 200-day moving average of $2.99. The stock has a market capitalization of $90.51 million, a price-to-earnings ratio of -1.21 and a beta of 2.64.

Century Casinos (NASDAQ:CNTY) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The company had revenue of $155.70 million during the quarter, compared to analyst estimates 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 period last year, the firm earned ($0.47) earnings per share. As a group, equities research analysts expect that Century Casinos, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Casinos

Hedge funds and other institutional investors have recently modified their holdings of the company. Rice Hall James & Associates LLC lifted its stake in shares of Century Casinos by 27.1% during the third quarter. Rice Hall James & Associates LLC now owns 1,530,061 shares of the company’s stock valued at $3,917,000 after buying an additional 325,890 shares during the period. Empowered Funds LLC raised 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 valued at $194,000 after acquiring an additional 3,752 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Century Casinos during the 2nd quarter worth $32,000. Royce & Associates LP boosted its holdings in shares of Century Casinos by 2.2% during the third quarter. Royce & Associates LP now owns 2,896,035 shares of the company’s stock worth $7,414,000 after purchasing an additional 61,522 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Century Casinos in the second quarter valued at $215,000. 66.36% of the stock is currently owned by hedge funds and other institutional investors.

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.