Insider Buying: Churchill Downs Incorporated (NASDAQ:CHDN) Director Buys 3,800 Shares of Stock

Churchill Downs Incorporated (NASDAQ:CHDN) Director Paul C. Varga purchased 3,800 shares of Churchill Downs stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $129.83 on Thursday. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The business’s 50 day moving average price is $120.47 and its 200-day moving average price is $121.15. The firm has a market capitalization of $9.54 billion, a PE ratio of 28.92, a P/E/G ratio of 8.83 and a beta of 1.03. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $150.45.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that Churchill Downs Incorporated will post 5.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHDN shares. Stifel Nicolaus lifted their price target on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $137.00 to $141.00 in a research report on Monday, April 15th. JMP Securities restated a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Mizuho boosted their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.50.

Institutional Trading of Churchill Downs

A number of institutional investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after buying an additional 35,337 shares during the last quarter. Vanguard Group Inc. boosted its stake in Churchill Downs by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares during the last quarter. Capital International Investors boosted its stake in Churchill Downs by 6.1% during the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock worth $321,508,000 after buying an additional 136,197 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Churchill Downs by 8.3% during the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after buying an additional 83,214 shares during the last quarter. Finally, Boston Partners boosted its stake in Churchill Downs by 98.1% during the fourth quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after buying an additional 401,319 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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; and casino gaming.