Churchill Downs, Incorporated (NASDAQ:CHDN) Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP significantly reduced its stake in Churchill Downs by 70.3% during the first quarter, holding 2,662 shares worth approximately $296,000.
• Churchill Downs reported a quarterly EPS of $3.10, exceeding analysts' expectations, with revenues growing by 4.9% year-over-year to $934.40 million.
• Analysts have mixed outlooks on Churchill Downs, with target price adjustments ranging from $136.00 to $155.00 and an average rating of "Moderate Buy."

Aigen Investment Management LP lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 70.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,662 shares of the company's stock after selling 6,289 shares during the period. Aigen Investment Management LP's holdings in Churchill Downs were worth $296,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Utah Retirement Systems lifted its stake in shares of Churchill Downs by 2.7% during the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after acquiring an additional 100 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Churchill Downs by 39.6% during the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Churchill Downs by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after acquiring an additional 130 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Churchill Downs by 0.3% during the 1st quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock worth $4,925,000 after acquiring an additional 138 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Churchill Downs by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock worth $556,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Down 1.0%

Shares of CHDN traded down $1.00 during trading hours on Friday, hitting $102.58. The company had a trading volume of 627,722 shares, compared to its average volume of 653,546. The company has a market capitalization of $7.19 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. 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 $103.74 and its two-hundred day moving average price is $105.26.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHDN shares. Stifel Nicolaus raised their price target on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays raised their price objective on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. assumed coverage on Churchill Downs in a report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $136.50.

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.