Churchill Downs, Incorporated (NASDAQ:CHDN) Stock Position Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 490.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,790 shares of the company's stock after acquiring an additional 53,817 shares during the quarter. Edgestream Partners L.P. owned about 0.09% of Churchill Downs worth $7,196,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Utah Retirement Systems grew its holdings in Churchill Downs by 2.7% in the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock valued at $507,000 after purchasing an additional 100 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after purchasing an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC grew 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 valued at $360,000 after buying an additional 130 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 valued at $556,000 after buying an additional 165 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Churchill Downs by 2.8% during the 1st quarter. Bessemer Group Inc. now owns 6,348 shares of the company's stock worth $705,000 after buying an additional 175 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 1.2%

Shares of NASDAQ:CHDN traded up $1.21 during mid-day trading on Wednesday, hitting $105.41. 631,146 shares of the company traded hands, compared to its average volume of 589,869. The firm's 50 day simple moving average is $99.20 and its 200 day simple moving average is $108.81. The firm has a market cap of $7.61 billion, a P/E ratio of 18.76, a PEG ratio of 2.97 and a beta of 0.95. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.53 and a current ratio of 0.53. 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 issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.19% and a return on equity of 40.73%. The firm had revenue of $642.60 million during the quarter, compared to analyst estimates of $649.68 million. During the same period last year, the business earned $1.13 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Insider Buying and Selling at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin acquired 2,000 shares of the firm's 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 acquisition, the director directly owned 99,012 shares in the company, valued at $9,173,461.80. This trade represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas C. Grissom bought 10,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the acquisition, the director directly owned 38,869 shares of the company's stock, valued at $3,605,877.13. This trade represents a 34.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. JMP Securities cut their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th. Jefferies Financial Group decreased their target price on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They set an "overweight" rating and a $116.00 target price for the company. Finally, Barclays reduced their price target on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of "Moderate Buy" and a consensus target price of $138.18.

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.