WBH Advisory Inc. Trims Position in Churchill Downs Incorporated (NASDAQ:CHDN)

WBH Advisory Inc. lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,450 shares of the company’s stock after selling 100 shares during the period. WBH Advisory Inc.’s holdings in Churchill Downs were worth $900,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock worth $104,921,000 after buying an additional 44,773 shares during the period. Barlow Wealth Partners Inc. purchased a new position in Churchill Downs during the 4th quarter valued at about $20,669,000. Westfield Capital Management Co. LP increased its position in Churchill Downs by 12.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock valued at $52,411,000 after purchasing an additional 47,269 shares during the period. Capital Research Global Investors increased its position in Churchill Downs by 0.5% during the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after purchasing an additional 35,337 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after purchasing an additional 246,769 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

CHDN has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. JMP Securities raised their target price on shares of Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their target price on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Macquarie raised their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus target price of $157.11.

Churchill Downs Stock Down 1.0 %

Shares of NASDAQ:CHDN traded down $1.31 during trading on Friday, reaching $133.55. The stock had a trading volume of 11,818 shares, compared to its average volume of 441,033. The firm’s 50-day simple moving average is $138.31 and its 200 day simple moving average is $128.91. The company has a market capitalization of $9.82 billion, a P/E ratio of 30.04, a PEG ratio of 2.34 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. Churchill Downs’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business earned $2.24 EPS. As a group, research analysts expect that Churchill Downs Incorporated will post 6.11 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; and casino gaming.