Cardinal Strategic Wealth Guidance Sells 2,706 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• Cardinal Strategic Wealth Guidance reduced its holdings in Churchill Downs by 50.5% during Q2, selling 2,706 shares and ending up with 2,651 shares valued at $268,000.
• Churchill Downs reported earnings of $3.10 per share, exceeding analysts' expectations, with quarterly revenue of $934.40 million, marking a 4.9% increase from the previous year.
• Most analysts maintain a consensus rating of "Moderate Buy" for CHDN, with a target price averaging around $136.50 and ten analysts rating it a Buy.

Cardinal Strategic Wealth Guidance decreased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 50.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,651 shares of the company's stock after selling 2,706 shares during the period. Cardinal Strategic Wealth Guidance's holdings in Churchill Downs were worth $268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Churchill Downs by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company's stock worth $34,073,000 after acquiring an additional 11,460 shares during the period. Aurora Investment Counsel bought a new stake in Churchill Downs during the 1st quarter worth approximately $2,675,000. Teacher Retirement System of Texas raised its stake in Churchill Downs by 19.3% during the 1st quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company's stock worth $1,218,000 after acquiring an additional 1,774 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Churchill Downs during the 1st quarter worth approximately $8,677,000. Finally, Hunter Associates Investment Management LLC raised its stake in Churchill Downs by 29.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 32,428 shares of the company's stock worth $3,600,000 after acquiring an additional 7,306 shares during the period. Institutional investors own 82.59% of the company's stock.

Churchill Downs Trading Down 0.0%

Churchill Downs stock opened at $95.98 on Friday. The firm's 50 day moving average price is $101.11 and its 200-day moving average price is $101.09. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $6.73 billion, a P/E ratio of 16.49, a PEG ratio of 1.79 and a beta of 0.83.

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

Analyst Ratings Changes

A number of equities research analysts have commented on CHDN shares. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price on the stock. Truist Financial reduced their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Churchill Downs in a research report on Saturday, September 27th. Macquarie lifted their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Susquehanna lifted their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $136.50.

Churchill Downs Company 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; casino gaming; and Terre Haute Casino Resort.

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