Churchill Downs, Incorporated $CHDN Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its stake in Churchill Downs, Incorporated by 29.1% in Q1, now owning approximately 1.04% of the company valued at around $83.6 million.
• Several large investors increased their holdings in Churchill Downs, with MassMutual Private Wealth & Trust FSB raising its stake by 159.1%, now owning 412 shares valued at $46,000.
• Churchill Downs reported strong quarterly earnings with an EPS of $3.10, surpassing analysts' expectations along with a year-over-year revenue increase of 4.9%.

Ameriprise Financial Inc. lowered its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 29.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 752,613 shares of the company's stock after selling 308,233 shares during the period. Ameriprise Financial Inc. owned approximately 1.04% of Churchill Downs worth $83,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CHDN. Elequin Capital LP acquired a new position in shares of Churchill Downs in the first quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock valued at $46,000 after purchasing an additional 253 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the last quarter. Private Trust Co. NA lifted its stake in Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company's stock worth $60,000 after acquiring an additional 330 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Churchill Downs by 181.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock worth $62,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHDN shares. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Susquehanna lifted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Macquarie lifted their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target for the company. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $136.50.

Churchill Downs Stock Up 0.8%

Shares of NASDAQ:CHDN traded up $0.87 during trading on Friday, hitting $103.73. 506,509 shares of the company were exchanged, compared to its average volume of 507,358. The stock has a market capitalization of $7.27 billion, a P/E ratio of 17.82, a PEG ratio of 1.92 and a beta of 0.95. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The firm's 50 day moving average price is $104.68 and its 200-day moving average price is $104.05.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 EPS. On average, research analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

About Churchill Downs

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.