Churchill Downs, Incorporated $CHDN Shares Sold by London Co. of Virginia

London Co. of Virginia lessened its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,620,723 shares of the company’s stock after selling 229,384 shares during the period. Churchill Downs accounts for about 1.7% of London Co. of Virginia’s holdings, making the stock its 22nd biggest position. London Co. of Virginia owned approximately 3.76% of Churchill Downs worth $298,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Crawford Investment Counsel Inc. increased its position in Churchill Downs by 14.2% in the 4th quarter. Crawford Investment Counsel Inc. now owns 13,738 shares of the company’s stock valued at $1,563,000 after acquiring an additional 1,705 shares during the period. &PARTNERS increased its position in Churchill Downs by 36.5% in the 4th quarter. &PARTNERS now owns 5,076 shares of the company’s stock valued at $578,000 after acquiring an additional 1,356 shares during the period. Alberta Investment Management Corp acquired a new position in Churchill Downs in the 4th quarter valued at about $1,525,000. Vanguard Personalized Indexing Management LLC increased its position in Churchill Downs by 111.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,235 shares of the company’s stock valued at $823,000 after acquiring an additional 3,817 shares during the period. Finally, Verition Fund Management LLC increased its position in Churchill Downs by 1,234.6% in the 4th quarter. Verition Fund Management LLC now owns 146,734 shares of the company’s stock valued at $16,695,000 after acquiring an additional 135,739 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Mizuho boosted their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp boosted their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Tuesday, April 21st. Finally, Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $89.86 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The business’s 50 day moving average is $89.74 and its two-hundred day moving average is $96.53. Churchill Downs, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.46. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.61 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.