Argent Trust Co Has $615,000 Stock Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Argent Trust Co increased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,539 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Argent Trust Co’s holdings in Churchill Downs were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CHDN. SG Americas Securities LLC raised its stake in Churchill Downs by 28,864.9% during the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company’s stock worth $56,879,000 after buying an additional 510,331 shares during the period. FMR LLC raised its stake in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock worth $479,687,000 after buying an additional 214,694 shares during the period. Point72 Asset Management L.P. raised its stake in Churchill Downs by 97.9% during the 4th quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company’s stock worth $57,578,000 after buying an additional 213,311 shares during the period. Balyasny Asset Management L.P. raised its stake in Churchill Downs by 57.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company’s stock worth $71,185,000 after buying an additional 193,677 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Churchill Downs by 444.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company’s stock worth $20,651,000 after buying an additional 151,805 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $104.51 on Tuesday. The stock has a fifty day simple moving average of $102.44 and a two-hundred day simple moving average of $106.58. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.99 and a beta of 0.95. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter in the prior year, the business posted $2.89 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Insider Activity

In other Churchill Downs news, Director Douglas C. Grissom acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the transaction, the director owned 38,869 shares of the company’s stock, valued at approximately $3,605,877.13. This represents a 34.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHDN shares. Truist Financial dropped their price target on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Jefferies Financial Group decreased their price objective on Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. started coverage on Churchill Downs in a report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price objective for the company. Wall Street Zen raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. Finally, Susquehanna boosted their price objective on Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $138.18.

Churchill Downs Company Profile

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; casino gaming; and Terre Haute Casino Resort.