PNC Financial Services Group Inc. Sells 4,505 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

PNC Financial Services Group Inc. trimmed its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,160 shares of the company's stock after selling 4,505 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of Churchill Downs worth $7,015,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings in Churchill Downs by 6.4% during the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after acquiring an additional 214,694 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Churchill Downs by 4.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock worth $179,557,000 after purchasing an additional 59,657 shares during the period. Ameriprise Financial Inc. increased its holdings in Churchill Downs by 5.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,060,846 shares of the company's stock valued at $141,669,000 after purchasing an additional 58,507 shares during the last quarter. Jennison Associates LLC lifted its stake in Churchill Downs by 3.0% in the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock valued at $114,496,000 after buying an additional 30,444 shares during the period. Finally, Northern Trust Corp boosted its holdings in Churchill Downs by 20.5% during the fourth quarter. Northern Trust Corp now owns 589,710 shares of the company's stock worth $78,750,000 after buying an additional 100,337 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Down 1.2%

Shares of Churchill Downs stock traded down $1.27 during trading on Friday, reaching $100.90. The stock had a trading volume of 617,476 shares, compared to its average volume of 689,973. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.89 and a beta of 0.95. The stock has a fifty day moving average price of $103.03 and a two-hundred day moving average price of $106.05. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21.

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

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of recent analyst reports. JMP Securities lowered their price target on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 27th. Barclays upped their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Susquehanna lifted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Truist Financial decreased their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Churchill Downs has a consensus rating of "Moderate Buy" and an average price target of $138.18.

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.