Shine Investment Advisory Services Inc. grew its position in Churchill Downs, Inc. (NASDAQ:CHDN) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 808 shares of the company’s stock after purchasing an additional 100 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Churchill Downs were worth $93,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CHDN. Gemmer Asset Management LLC raised its holdings in Churchill Downs by 200.0% in the first quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 200 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Churchill Downs during the first quarter worth $27,000. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Churchill Downs during the first quarter worth $27,000. FTB Advisors Inc. increased its position in shares of Churchill Downs by 248.0% during the first quarter. FTB Advisors Inc. now owns 355 shares of the company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Churchill Downs during the fourth quarter worth $37,000. Institutional investors own 71.70% of the company’s stock.
CHDN has been the subject of several research reports. ValuEngine downgraded shares of Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Susquehanna Bancshares initiated coverage on shares of Churchill Downs in a research report on Wednesday, July 24th. They set a “positive” rating and a $140.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Telsey Advisory Group increased their price objective on shares of Churchill Downs from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, July 1st. Finally, BidaskClub raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $132.20.
Shares of CHDN stock traded up $0.62 during trading hours on Tuesday, hitting $115.51. 3,638 shares of the company were exchanged, compared to its average volume of 240,792. The company has a 50 day moving average of $117.10. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.66. Churchill Downs, Inc. has a 52 week low of $74.58 and a 52 week high of $132.73. The stock has a market cap of $4.64 billion, a P/E ratio of 31.87, a PEG ratio of 1.44 and a beta of 1.23.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.01). The company had revenue of $477.40 million for the quarter, compared to the consensus estimate of $469.85 million. Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $7.71 EPS. As a group, sell-side analysts forecast that Churchill Downs, Inc. will post 4.19 earnings per share for the current fiscal year.
About Churchill Downs
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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