Bank of New York Mellon Corp Has $41.99 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Bank of New York Mellon Corp reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 467,457 shares of the company's stock after selling 31,956 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Churchill Downs worth $41,992,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CHDN. Quadrant Capital Group LLC boosted its holdings in shares of Churchill Downs by 4.7% in the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company's stock valued at $254,000 after buying an additional 118 shares during the period. Sanctuary Advisors LLC lifted its position in Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company's stock valued at $2,479,000 after acquiring an additional 125 shares in the last quarter. Nebula Research & Development LLC boosted its stake in Churchill Downs by 4.8% in the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company's stock worth $346,000 after purchasing an additional 158 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Churchill Downs by 7.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company's stock worth $285,000 after purchasing an additional 169 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Churchill Downs by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company's stock valued at $327,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Up 3.3%

Shares of CHDN opened at $86.50 on Friday. The firm has a market cap of $6.03 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.35. The firm's 50-day simple moving average is $86.77 and its 200 day simple moving average is $91.28.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The firm had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same period last year, the business posted $1.07 earnings per share. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research report on Friday, April 24th. Mizuho boosted their target price on Churchill Downs from $146.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings downgraded Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Churchill Downs currently has an average rating of "Moderate Buy" and an average target price of $138.50.

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.

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