Harbor Capital Advisors Inc. Sells 20,621 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Churchill Downs, Incorporated by 54.4%, holding 17,255 shares worth approximately $1.74 million.
• Wall Street analysts generally view Churchill Downs positively, with a consensus rating of "Buy" and a price target of $136.50 per share.
• Churchill Downs reported quarterly earnings of $3.10 per share, exceeding analysts' estimates, and experienced a 4.9% year-over-year revenue increase.

Harbor Capital Advisors Inc. reduced its position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 54.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,255 shares of the company's stock after selling 20,621 shares during the period. Harbor Capital Advisors Inc.'s holdings in Churchill Downs were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CHDN. Central Pacific Bank Trust Division boosted its position in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after purchasing an additional 129 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Churchill Downs by 4.2% in the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after buying an additional 130 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of Churchill Downs by 5.7% in the first quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock worth $273,000 after buying an additional 132 shares during the last quarter. Foundations Investment Advisors LLC grew its position in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock valued at $4,925,000 after buying an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Churchill Downs by 4.1% during the fourth 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 last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

Analysts Set New Price Targets

CHDN has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Mizuho lifted their target price on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. 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 target for the company. Susquehanna raised their price objective on Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, Macquarie lifted their price objective on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Ten analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $136.50.

Churchill Downs Price Performance

Shares of Churchill Downs stock traded up $0.53 during trading hours on Monday, hitting $95.83. The company's stock had a trading volume of 607,655 shares, compared to its average volume of 585,489. The company has a market cap of $6.72 billion, a PE ratio of 16.47, a PEG ratio of 1.78 and a beta of 0.86. 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 business has a 50 day moving average price of $103.10 and a two-hundred day moving average price of $101.76. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter last year, the company earned $2.89 EPS. The firm's quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Company 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.