Community Trust & Investment Co. Decreases Position in Churchill Downs, Incorporated $CHDN

Community Trust & Investment Co. decreased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,400 shares of the company’s stock after selling 6,384 shares during the quarter. Churchill Downs comprises about 1.2% of Community Trust & Investment Co.’s portfolio, making the stock its 24th biggest position. Community Trust & Investment Co. owned approximately 0.28% of Churchill Downs worth $22,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its stake in Churchill Downs by 1.1% in the fourth quarter. Park Avenue Securities LLC now owns 12,132 shares of the company’s stock valued at $1,380,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Churchill Downs by 112.6% during the fourth quarter. GAMMA Investing LLC now owns 1,469 shares of the company’s stock worth $167,000 after acquiring an additional 778 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Churchill Downs by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock worth $21,326,000 after acquiring an additional 16,646 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Churchill Downs by 1.5% during the third quarter. Allworth Financial LP now owns 7,549 shares of the company’s stock valued at $732,000 after acquiring an additional 109 shares in the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new position in shares of Churchill Downs during the third quarter valued at about $289,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citizens Jmp lifted their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company cut their price target on shares of Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Churchill Downs Trading Up 1.1%

Churchill Downs stock opened at $84.62 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 5.02. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.46. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65. The stock has a 50-day moving average price of $93.90 and a 200 day moving average price of $99.97.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The company had revenue of $665.90 million for the quarter, compared to the consensus estimate of $658.01 million. During the same quarter in the prior year, the company earned $0.92 EPS. Churchill Downs’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.