Yousif Capital Management LLC Sells 451 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Yousif Capital Management LLC decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,650 shares of the company’s stock after selling 451 shares during the period. Yousif Capital Management LLC’s holdings in Churchill Downs were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Churchill Downs by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after buying an additional 107,737 shares in the last quarter. FMR LLC boosted its holdings in Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after purchasing an additional 214,694 shares during the last quarter. Boston Partners boosted its holdings in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after purchasing an additional 77,213 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Churchill Downs by 4.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company’s stock worth $179,557,000 after acquiring an additional 59,657 shares during the period. Institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CHDN. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group lowered their price objective on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Friday, April 25th. JMP Securities reduced their target price on shares of Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 27th. Barclays reduced their price objective on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Wall Street Zen raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.30.

Churchill Downs Stock Up 1.6%

CHDN stock opened at $97.40 on Tuesday. The company has a market cap of $7.04 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.95 and a beta of 0.94. Churchill Downs Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company’s 50-day moving average price is $96.80 and its 200 day moving average price is $113.53. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business 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 43.67% and a net margin of 15.61%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director R Alex Rankin purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $92.65 per share, with a total value of $185,300.00. Following the completion of the transaction, the director now owns 99,012 shares of the company’s stock, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas C. Grissom purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $92.77 per share, with a total value of $927,700.00. Following the transaction, the director now directly owns 38,869 shares of the company’s stock, valued at $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 company insiders.

Churchill Downs 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.