Churchill Downs, Incorporated $CHDN Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 24.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,941 shares of the company’s stock after selling 927 shares during the period. Cetera Investment Advisers’ holdings in Churchill Downs were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock worth $46,000 after acquiring an additional 253 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Churchill Downs by 39.6% during the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock worth $51,000 after purchasing an additional 129 shares during the last quarter. Private Trust Co. NA increased its holdings in Churchill Downs by 154.9% during the 1st quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after purchasing an additional 330 shares during the last quarter. Ossiam increased its holdings in Churchill Downs by 2,292.7% during the 4th quarter. Ossiam now owns 1,962 shares of the company’s stock worth $262,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Churchill Downs during the 4th quarter worth approximately $293,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial dropped their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price objective on the stock. Barclays lifted their price objective on Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Jefferies Financial Group dropped their price objective on Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Stifel Nicolaus lifted their price objective on Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, Churchill Downs currently has a consensus rating of “Buy” and an average target price of $136.50.

Churchill Downs Stock Performance

CHDN stock opened at $103.78 on Wednesday. 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 firm has a market cap of $7.28 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.93 and a beta of 0.95. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The stock’s 50 day simple moving average is $103.85 and its 200 day simple moving average is $104.97.

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

Churchill Downs Company 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.