Brown Advisory Inc. Sells 365 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

Brown Advisory Inc. lowered its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,524 shares of the company’s stock after selling 365 shares during the period. Brown Advisory Inc.’s holdings in Churchill Downs were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake in Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after purchasing an additional 253 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock worth $51,000 after acquiring an additional 129 shares in the last quarter. Private Trust Co. NA boosted its holdings in Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd boosted its holdings in Churchill Downs by 46.8% in the fourth quarter. Covestor Ltd now owns 929 shares of the company’s stock worth $124,000 after acquiring an additional 296 shares in the last quarter. Finally, Ossiam boosted its holdings in Churchill Downs by 2,292.7% in the fourth quarter. Ossiam now owns 1,962 shares of the company’s stock worth $262,000 after acquiring an additional 1,880 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group lowered their price target 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. assumed coverage on Churchill Downs in a report on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price target for the company. Truist Financial lowered their price target on Churchill Downs from $162.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Macquarie lowered their price target on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Barclays lowered their price target on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.09.

Churchill Downs Trading Down 2.5%

Shares of NASDAQ:CHDN opened at $104.20 on Wednesday. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The company has a market capitalization of $7.53 billion, a PE ratio of 18.54, a PEG ratio of 3.05 and a beta of 0.95. The business has a 50 day moving average of $98.94 and a two-hundred day moving average of $108.84. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.49.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The company had revenue of $642.60 million during the quarter, compared to analysts’ expectations of $649.68 million. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Insider Activity

In other Churchill Downs news, Director R Alex Rankin acquired 2,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the acquisition, the director owned 99,012 shares in the company, valued at $9,173,461.80. The trade was a 2.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas C. Grissom acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the acquisition, the director owned 38,869 shares in the company, valued at approximately $3,605,877.13. The trade was a 34.64% increase in their position. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by corporate insiders.

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.