Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,890,000 shares, a decrease of 6.0% from the March 15th total of 2,010,000 shares. Based on an average daily volume of 367,600 shares, the short-interest ratio is presently 5.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho assumed coverage on Churchill Downs in a report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $137.00 to $141.00 in a research note on Monday. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.13.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHDN. Castleview Partners LLC purchased a new position in shares of Churchill Downs in the second quarter worth about $38,000. Benjamin F. Edwards & Company Inc. purchased a new position in Churchill Downs during the 4th quarter valued at about $39,000. Vestor Capital LLC purchased a new position in Churchill Downs during the 4th quarter valued at about $45,000. Belpointe Asset Management LLC increased its holdings in Churchill Downs by 181.3% during the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after purchasing an additional 145 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Churchill Downs by 174.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.6 %

NASDAQ CHDN opened at $124.10 on Wednesday. The stock’s 50-day simple moving average is $119.68 and its two-hundred day simple moving average is $120.28. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The business had revenue of $561.20 million for the quarter, compared to the consensus estimate of $553.05 million. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Research analysts forecast that Churchill Downs will post 5.58 EPS for the current fiscal year.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.