Gamco Investors INC. ET AL Reduces Stock Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Gamco Investors INC. ET AL reduced its stake in Churchill Downs by 3.0%, selling 7,176 shares and holding 228,852 shares valued at approximately $25.4 million.
• Churchill Downs' stock price is currently down 0.8%, trading at $103.23, with a 52-week price range of $85.58 to $150.21 and a market cap of $7.24 billion.
• Churchill Downs reported $3.10 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 4.9% year-over-year.

Gamco Investors INC. ET AL reduced its position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,852 shares of the company's stock after selling 7,176 shares during the quarter. Gamco Investors INC. ET AL owned about 0.32% of Churchill Downs worth $25,419,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Elequin Capital LP acquired a new stake in shares of Churchill Downs in the first quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 acquiring an additional 253 shares during the period. Central Pacific Bank Trust Division boosted its holdings 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 acquiring an additional 129 shares during the period. Private Trust Co. NA boosted its holdings 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 acquiring an additional 330 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Churchill Downs by 181.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock valued at $62,000 after acquiring an additional 361 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective for the company. JMP Securities decreased their price target on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Susquehanna increased their price target on Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Truist Financial decreased their price target on Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Stifel Nicolaus increased their price target on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $136.50.

Churchill Downs Price Performance

Churchill Downs stock traded up $0.87 during midday trading on Friday, reaching $103.73. The company's stock had a trading volume of 506,509 shares, compared to its average volume of 507,358. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The stock's 50 day simple moving average is $104.68 and its 200 day simple moving average is $104.05. The firm has a market capitalization of $7.27 billion, a PE ratio of 17.82, a P/E/G ratio of 1.92 and a beta of 0.95.

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

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.