Nisa Investment Advisors LLC Cuts Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Nisa Investment Advisors LLC cut its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,495 shares of the company’s stock after selling 505 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Churchill Downs were worth $721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its position in Churchill Downs by 2.7% during the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock worth $507,000 after acquiring an additional 100 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after buying an additional 129 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Churchill Downs by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock valued at $360,000 after buying an additional 130 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Churchill Downs by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company’s stock valued at $556,000 after buying an additional 165 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Churchill Downs by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 6,348 shares of the company’s stock valued at $705,000 after purchasing an additional 175 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin purchased 2,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the completion of the purchase, the director directly owned 99,012 shares in the company, valued at approximately $9,173,461.80. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas C. Grissom purchased 10,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the director owned 38,869 shares of the company’s stock, valued at $3,605,877.13. This represents a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by company insiders.

Churchill Downs Stock Down 2.5%

NASDAQ:CHDN opened at $104.20 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. The stock’s fifty day moving average is $98.94 and its two-hundred day moving average is $108.84. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on CHDN. JMP Securities dropped their price objective on Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 27th. Stifel Nicolaus upped their price target on Churchill Downs from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Susquehanna lowered their price objective on Churchill Downs from $150.00 to $136.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group lowered their price objective on Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Truist Financial lowered their price objective on Churchill Downs from $162.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.09.

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.