Churchill Downs Incorporated (NASDAQ:CHDN) Stake Cut by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. decreased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,638 shares of the company’s stock after selling 309 shares during the period. Johnson Investment Counsel Inc.’s holdings in Churchill Downs were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. acquired a new position in Churchill Downs during the 4th quarter valued at approximately $39,000. Vestor Capital LLC bought a new position in Churchill Downs in the 4th quarter valued at about $45,000. GAMMA Investing LLC acquired a new position in Churchill Downs during the 4th quarter valued at about $66,000. Covestor Ltd raised its position in shares of Churchill Downs by 44.0% during the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after buying an additional 259 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Down 0.0 %

Churchill Downs stock opened at $133.86 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. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $145.71. The firm has a fifty day moving average price of $124.14 and a two-hundred day moving average price of $122.97. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 3.83 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, analysts forecast that Churchill Downs Incorporated will post 5.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHDN shares. Truist Financial lifted their price target on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and set a $156.00 price objective on shares of Churchill Downs in a research report on Monday, May 6th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Mizuho lifted their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.25.

Get Our Latest Report on Churchill Downs

Insider Buying and Selling

In related news, Director Paul C. Varga purchased 3,800 shares of Churchill Downs stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $130.22 per share, with a total value of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.13% of the stock is currently owned by insiders.

Churchill Downs Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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