CW Advisors LLC Reduces Holdings in Churchill Downs, Incorporated $CHDN

CW Advisors LLC trimmed its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 9.0% in the first quarter, HoldingsChannel reports. The firm owned 5,783 shares of the company’s stock after selling 569 shares during the period. CW Advisors LLC’s holdings in Churchill Downs were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Churchill Downs by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company’s stock worth $34,073,000 after purchasing an additional 11,460 shares in the last quarter. Aurora Investment Counsel purchased a new position in shares of Churchill Downs during the 1st quarter worth approximately $2,675,000. Lighthouse Investment Partners LLC purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $6,133,000. Teacher Retirement System of Texas increased its stake in shares of Churchill Downs by 19.3% during the 1st quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company’s stock worth $1,218,000 after purchasing an additional 1,774 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Churchill Downs by 29.4% during the 4th quarter. Millennium Management LLC now owns 264,431 shares of the company’s stock worth $35,312,000 after purchasing an additional 60,080 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $103.83 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.93 and a beta of 0.95. The firm’s fifty day simple moving average is $104.34 and its 200 day simple moving average is $104.30. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHDN. Truist Financial dropped their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Susquehanna raised their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Barclays raised their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Macquarie raised their target price on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus raised their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Churchill Downs has an average rating of “Buy” and a consensus price target of $136.50.

Churchill Downs 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.