GAMMA Investing LLC Reduces Stock Position in Churchill Downs, Incorporated $CHDN

GAMMA Investing LLC lowered its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 46.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 568 shares of the company’s stock after selling 488 shares during the quarter. GAMMA Investing LLC’s holdings in Churchill Downs were worth $57,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC lifted its stake in Churchill Downs by 3.0% in the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock worth $114,496,000 after purchasing an additional 30,444 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Churchill Downs by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock worth $68,359,000 after buying an additional 10,108 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Churchill Downs by 5.1% in the 1st quarter. Baird Financial Group Inc. now owns 602,849 shares of the company’s stock worth $66,958,000 after buying an additional 28,989 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Churchill Downs by 107.4% in the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company’s stock worth $60,919,000 after buying an additional 284,045 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Churchill Downs by 28,864.9% in the 1st quarter. SG Americas Securities LLC now owns 512,099 shares of the company’s stock worth $56,879,000 after buying an additional 510,331 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Macquarie boosted their target price on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Mizuho boosted their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Truist Financial reduced their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Susquehanna boosted their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Churchill Downs Price Performance

NASDAQ CHDN opened at $95.98 on Friday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50 day moving average price is $101.11 and its 200-day moving average price is $101.09. Churchill Downs, Incorporated has a 52-week low of $85.58 and a 52-week high of $150.21. The company has a market cap of $6.73 billion, a PE ratio of 16.49, a P/E/G ratio of 1.79 and a beta of 0.83.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $924.36 million. During the same period last year, the firm earned $2.89 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS 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.