Churchill Downs, Incorporated $CHDN Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 48.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338 shares of the company’s stock after selling 318 shares during the quarter. UMB Bank n.a.’s holdings in Churchill Downs were worth $34,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division raised its position in shares of 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 period. OneDigital Investment Advisors LLC raised its position in shares of Churchill Downs by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock worth $360,000 after purchasing an additional 130 shares during the period. Aristides Capital LLC boosted its holdings in shares of Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock valued at $273,000 after acquiring an additional 132 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company’s stock valued at $4,925,000 after acquiring an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Churchill Downs by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company’s stock valued at $556,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $96.94 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’s 50-day moving average price is $102.43 and its two-hundred day moving average price is $101.53. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The stock has a market cap of $6.80 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.80 and a beta of 0.86.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on CHDN. Macquarie boosted their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Truist Financial reduced their price target on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price target for the company. Mizuho boosted their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Finally, Susquehanna boosted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $136.50.

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.