Brown Advisory Inc. Has $391,000 Stake in Churchill Downs, Incorporated (NASDAQ:CHDN)

Brown Advisory Inc. trimmed its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other large investors have also bought and sold shares of CHDN. Utah Retirement Systems grew its position in Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock valued at $507,000 after purchasing an additional 100 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Churchill Downs by 4.2% in the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock valued at $360,000 after purchasing an additional 130 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Churchill Downs by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company’s stock valued at $556,000 after purchasing an additional 165 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Churchill Downs by 2.8% in the first 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Susquehanna cut their target price on shares of Churchill Downs from $150.00 to $136.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group cut their target price on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Macquarie dropped their price objective on shares of Churchill Downs from $172.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $139.09.

Insiders Place Their Bets

In other news, Director R Alex Rankin purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the purchase, the director directly owned 99,012 shares in the company, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas C. Grissom bought 10,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the purchase, the director directly owned 38,869 shares in the company, valued at approximately $3,605,877.13. This trade represents a 34.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $104.20 on Wednesday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.05 and a beta of 0.95. The company has a fifty day moving average price of $98.94 and a 200-day moving average price of $108.84. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.53 and a quick ratio of 0.53. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. Churchill Downs’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. As a group, equities research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

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; casino gaming; and Terre Haute Casino Resort.