Century Casinos (NASDAQ:CNTY) Stock Rating Upgraded by Zacks Investment Research

Century Casinos (NASDAQ:CNTY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Century Casinos,Inc. & its subsidiaries,own & operate a limited-stakes gaming casino in Cripple Creek,Colorado & are pursuing a number of additional gaming opportunities internationally & in the U.S.The Company was formed to acquire ownership interests in,and to obtain management contracts with respect to,gaming establishments.The Company generally seeks to enter into gaming operations in areas with attractive demographic attributes,high population densities,local tourism and/or predictable traffic patterns,w/ the long-term objective of establishing geographic project diversification. “

Several other research analysts have also weighed in on CNTY. ValuEngine raised Century Casinos from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Macquarie began coverage on Century Casinos in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Finally, BidaskClub raised Century Casinos from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $10.63.

Shares of NASDAQ:CNTY traded up $0.27 during trading on Monday, hitting $2.52. 1,254,379 shares of the company’s stock traded hands, compared to its average volume of 395,748. Century Casinos has a 52 week low of $1.01 and a 52 week high of $10.41. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 2.87. The company has a market cap of $66.38 million, a price-to-earnings ratio of -3.94, a price-to-earnings-growth ratio of 0.11 and a beta of 1.77. The company has a 50-day moving average price of $4.62 and a 200-day moving average price of $7.11.

Century Casinos (NASDAQ:CNTY) last announced its earnings results on Friday, March 13th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.70). Century Casinos had a negative net margin of 8.78% and a negative return on equity of 10.24%. The firm had revenue of $67.24 million during the quarter, compared to analyst estimates of $59.40 million. On average, analysts predict that Century Casinos will post 0.8 earnings per share for the current fiscal year.

In other Century Casinos news, CEO Peter Hoetzinger bought 250,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $1.35 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer now owns 261,000 shares of the company’s stock, valued at $352,350. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Citigroup Inc. increased its holdings in shares of Century Casinos by 50.4% during the 4th quarter. Citigroup Inc. now owns 5,640 shares of the company’s stock worth $45,000 after acquiring an additional 1,891 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Century Casinos by 52.2% in the 4th quarter. Acadian Asset Management LLC now owns 8,940 shares of the company’s stock valued at $71,000 after purchasing an additional 3,068 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in Century Casinos in the 1st quarter valued at $86,000. Trexquant Investment LP bought a new stake in Century Casinos in the 4th quarter valued at $170,000. Finally, First Interstate Bank boosted its stake in Century Casinos by 260.3% in the 4th quarter. First Interstate Bank now owns 22,700 shares of the company’s stock valued at $180,000 after purchasing an additional 16,400 shares during the period. 79.85% of the stock is currently owned by institutional investors and hedge funds.

About Century Casinos

Century Casinos, Inc operates as a casino entertainment company worldwide. The company develops and operates gaming establishments, as well as related lodging, restaurant, horse racing, and entertainment facilities. It owns and operates casinos in North America, England, and Poland; a racetrack and entertainment center in Canada; and pari-mutuel off-track betting network in southern Alberta, Canada.

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