Hunter Associates Investment Management LLC Has $3.60 Million Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Hunter Associates Investment Management LLC boosted its position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,428 shares of the company's stock after purchasing an additional 7,306 shares during the period. Hunter Associates Investment Management LLC's holdings in Churchill Downs were worth $3,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake 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 buying an additional 253 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after buying an additional 129 shares during the period. Private Trust Co. NA increased its stake in shares of Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company's stock valued at $60,000 after buying an additional 330 shares during the period. Covestor Ltd increased its stake in shares of Churchill Downs by 46.8% in the fourth quarter. Covestor Ltd now owns 929 shares of the company's stock valued at $124,000 after buying an additional 296 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Churchill Downs by 119,900.0% in the fourth quarter. Larson Financial Group LLC now owns 1,200 shares of the company's stock valued at $160,000 after buying an additional 1,199 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Up 1.3%

NASDAQ CHDN traded up $1.42 during trading hours on Thursday, hitting $106.80. 598,251 shares of the company's stock were exchanged, compared to its average volume of 590,791. The stock has a 50-day simple moving average of $97.80 and a 200 day simple moving average of $109.72. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 3.01 and a beta of 0.95. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.49.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a return on equity of 40.73% and a net margin of 15.19%. The business had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. During the same period in the prior year, the business earned $1.13 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director R Alex Rankin acquired 2,000 shares of Churchill Downs stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $92.65 per share, with a total value of $185,300.00. Following the completion of the purchase, the director owned 99,012 shares of the company's stock, valued at approximately $9,173,461.80. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas C. Grissom acquired 10,000 shares of Churchill Downs stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $92.77 per share, with a total value of $927,700.00. Following the purchase, the director directly owned 38,869 shares of the company's stock, valued at approximately $3,605,877.13. This trade represents a 34.64% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CHDN shares. JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target for the company. Macquarie decreased their price target on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Truist Financial decreased their price target on Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Barclays decreased their price target on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their price target on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.91.

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; casino gaming; and Terre Haute Casino Resort.