Hunter Associates Investment Management LLC Acquires 7,306 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

Hunter Associates Investment Management LLC lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,428 shares of the company's stock after acquiring 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 reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Churchill Downs in the fourth quarter valued at $1,927,000. Landmark Investment Partners L.P. acquired a new stake in Churchill Downs during the fourth quarter worth about $13,317,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Churchill Downs in the fourth quarter valued at about $6,133,000. Millennium Management LLC grew its stake in shares of Churchill Downs by 29.4% in the fourth quarter. Millennium Management LLC now owns 264,431 shares of the company's stock valued at $35,312,000 after buying an additional 60,080 shares in the last quarter. Finally, Graham Capital Management L.P. grew its stake in shares of Churchill Downs by 106.9% in the fourth quarter. Graham Capital Management L.P. now owns 15,243 shares of the company's stock valued at $2,036,000 after buying an additional 7,875 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Trading Down 0.6%

Shares of NASDAQ CHDN traded down $0.64 during mid-day trading on Friday, hitting $106.16. 205,874 shares of the company traded hands, compared to its average volume of 589,321. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 3.01 and a beta of 0.95. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. The business has a 50 day moving average of $98.12 and a two-hundred day moving average of $109.55.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHDN. Stifel Nicolaus boosted their price target on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group reduced their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research report on Friday, April 25th. 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. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Susquehanna cut their price objective on 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $139.09.

Insider Activity

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

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.