ProShare Advisors LLC Sells 158 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

ProShare Advisors LLC reduced its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,154 shares of the company’s stock after selling 158 shares during the period. ProShare Advisors LLC’s holdings in Churchill Downs were worth $440,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after buying an additional 107 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Churchill Downs in the 1st quarter valued at about $44,000. CWM LLC boosted its stake in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. Bank & Trust Co bought a new stake in Churchill Downs during the 2nd quarter worth approximately $84,000. Finally, GAMMA Investing LLC raised its stake in shares of Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Up 0.5 %

CHDN stock opened at $135.93 on Wednesday. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The stock has a fifty day moving average of $137.52 and a 200-day moving average of $133.87. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.01 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.24 earnings per share. As a group, equities research analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CHDN shares. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. JMP Securities lifted their target price on shares of Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a research report on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.90.

About Churchill Downs

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.