Cardinal Strategic Wealth Guidance Purchases 2,682 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

Cardinal Strategic Wealth Guidance boosted its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 100.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,357 shares of the company's stock after purchasing an additional 2,682 shares during the period. Cardinal Strategic Wealth Guidance's holdings in Churchill Downs were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. MassMutual Private Wealth & Trust FSB lifted its position in Churchill Downs by 159.1% during 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 during the period. Central Pacific Bank Trust Division lifted its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after purchasing an additional 129 shares during the period. Private Trust Co. NA lifted its position in Churchill Downs by 154.9% during the first quarter. Private Trust Co. NA now owns 543 shares of the company's stock valued at $60,000 after purchasing an additional 330 shares during the period. Covestor Ltd lifted its position in Churchill Downs by 46.8% during the fourth quarter. Covestor Ltd now owns 929 shares of the company's stock valued at $124,000 after purchasing an additional 296 shares during the period. Finally, Ossiam lifted its position in Churchill Downs by 2,292.7% during the fourth quarter. Ossiam now owns 1,962 shares of the company's stock valued at $262,000 after purchasing an additional 1,880 shares during the period. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Down 0.9%

Shares of CHDN stock opened at $105.80 on Friday. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.02 and a beta of 0.95. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company's fifty day moving average price is $98.37 and its 200-day moving average price is $109.21. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.53 and a quick ratio of 0.53.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. Sell-side analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHDN. Mizuho lowered their price objective on shares of Churchill Downs from $137.00 to $134.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price for the company. Jefferies Financial Group reduced their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wall Street Zen raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Susquehanna reduced their target price on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $139.09.

Insider Buying and Selling at Churchill Downs

In related news, Director R Alex Rankin purchased 2,000 shares of Churchill Downs stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the acquisition, the director owned 99,012 shares in the company, valued at approximately $9,173,461.80. The trade was a 2.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas C. Grissom purchased 10,000 shares of Churchill Downs stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the acquisition, the director owned 38,869 shares in the company, valued at $3,605,877.13. The trade was a 34.64% increase in their position. The disclosure for this purchase can be found here. 5.34% of the stock is owned by company insiders.

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.

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