Churchill Downs Sees Unusually High Options Volume (NASDAQ:CHDN)

Churchill Downs, Incorporated (NASDAQ:CHDN) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 7,000 put options on the company. This represents an increase of approximately 1,122% compared to the average volume of 573 put options.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CHDN shares. Citizens Jmp raised their target price on Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Wells Fargo & Company reduced their target price on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Churchill Downs Trading Down 0.0%

NASDAQ:CHDN opened at $88.48 on Thursday. Churchill Downs has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $6.17 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65. The business’s 50-day simple moving average is $90.05 and its 200-day simple moving average is $99.15.

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

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Churchill Downs during the 3rd quarter valued at about $25,000. Parkside Financial Bank & Trust lifted its holdings in shares of Churchill Downs by 293.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. First Horizon Corp bought a new stake in Churchill Downs in the 3rd quarter valued at approximately $26,000. Finally, Quent Capital LLC acquired a new position in Churchill Downs during the 3rd quarter worth approximately $27,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company 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.