Private Advisor Group LLC Has $356,000 Stock Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Private Advisor Group LLC trimmed its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,201 shares of the company’s stock after selling 167 shares during the quarter. Private Advisor Group LLC’s holdings in Churchill Downs were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. MassMutual Private Wealth & Trust FSB grew its stake in Churchill Downs by 159.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after buying an additional 253 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock worth $51,000 after acquiring an additional 129 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Churchill Downs by 154.9% during the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after acquiring an additional 330 shares during the period. Covestor Ltd grew its position in shares of Churchill Downs by 46.8% in the fourth quarter. Covestor Ltd now owns 929 shares of the company’s stock valued at $124,000 after purchasing an additional 296 shares during the last quarter. Finally, Ossiam increased its stake in shares of Churchill Downs by 2,292.7% during the fourth quarter. Ossiam now owns 1,962 shares of the company’s stock worth $262,000 after purchasing an additional 1,880 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHDN has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on Churchill Downs from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JMP Securities dropped their target price on Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating for the company in a report on Tuesday, May 27th. Barclays upped their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Mizuho raised their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a report on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.18.

Insiders Place Their Bets

In other Churchill Downs news, Director Douglas C. Grissom bought 10,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $92.77 per share, with a total value of $927,700.00. Following the completion of the purchase, the director owned 38,869 shares in the company, valued at $3,605,877.13. The trade was a 34.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Alex Rankin purchased 2,000 shares of Churchill Downs stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $92.65 per share, for a total transaction of $185,300.00. Following the completion of the purchase, the director owned 99,012 shares in the company, valued at $9,173,461.80. This represents a 2.06% increase in their position. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by insiders.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $107.04 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The company has a market cap of $7.51 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a 50 day moving average of $101.95 and a 200-day moving average of $107.15. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 earnings per share. As a group, equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

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.