Century Casinos, Inc. (CNTY) Shares Soar Today Despite CEO Selling

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Shares of Century Casinos, Inc. (NASDAQ:CNTY) are up significantly in late morning trading today with the absence of any solid good news. The move, which seems more technically driven than having to do with the fundamentals of the company, has shares approaching their 52-week-highs seen earlier this month. Despite recent filings indicating that the company’s CEO, Erwin Et Al Haitzmann, sold 13,650 shares at an average price of $7.13, the stock continues to move higher.

The stock is up 4.14% or $0.3 following the news, hitting $7.54 per share. About 38,226 shares traded hands. CNTY has risen 16.03% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 18.29%.

The institutional sentiment increased to 2.23 in Q2 2015. It’s up 1.02, from 1.21 in 2015Q2. The ratio is positive, as 2 funds sold all their Century Casinos, Inc. shares they owned while 11 reduced their positions. 12 funds bought stakes while 17 increased their total positions. Institutions now own 19.89 million shares which is 32.89% more than the previous share count of 14.97 million in 2015Q2.

Perritt Capital Management Inc holds 1.49% of its total portfolio in Century Casinos, Inc., equating to 1.15 million shares. Ack Asset Management Llc owns 310,000 shares representing 0.8% of their total US portfolio. Moreover, Consolidated Investment Group Llc has 0.32% of their total portfolio invested in the company, equating to 113,464 shares. The Illinois-based Ariel Investments Llc has a total of 0.26% of their portfolio invested in the stock. Foundry Partners Llc, a Minnesota-based fund reported 364,965 shares owned.

Since August 13, 2015, the stock had 0 insider purchases, and 5 insider sales for a total of $453,195 in net activity. Wright Timothy Allen sold 3,956 shares worth $23,541. Haitzmann Erwin Et Al sold 11,708 shares worth $74,931. Hoetzinger Peter sold 12,800 shares worth $81,976.

Century Casinos, Inc. is an international casino entertainment company. The company has a market cap of $174.51 million. The Firm develops and operates gaming establishments, as well as related lodging, restaurant and entertainment facilities around the world. It has 16.84 P/E ratio. The Company’s divisions include Century Casino & Hotel – Edmonton Century Casino Calgary, Century Downs Racetrack and Casino, Century Casino & Hotel – Central City, Century Casino & Hotel – Cripple Creek, Casinos Poland, Cruise Ships & Other, and Corporate Other.

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