8,384 Shares in Churchill Downs, Incorporated (NASDAQ:CHDN) Purchased by J Hagan Capital Inc.

J Hagan Capital Inc. acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,384 shares of the company's stock, valued at approximately $931,000. Churchill Downs comprises approximately 0.8% of J Hagan Capital Inc.'s portfolio, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake 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 worth $46,000 after purchasing an additional 253 shares during the last quarter. Central Pacific Bank Trust Division grew its position 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 buying an additional 129 shares during the last quarter. Private Trust Co. NA increased its stake 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 buying an additional 330 shares during the period. Covestor Ltd raised its position in shares of Churchill Downs by 46.8% during the fourth quarter. Covestor Ltd now owns 929 shares of the company's stock worth $124,000 after acquiring an additional 296 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Churchill Downs by 119,900.0% in the fourth quarter. Larson Financial Group LLC now owns 1,200 shares of the company's stock worth $160,000 after acquiring an additional 1,199 shares during the period. Institutional investors and hedge funds own 82.59% of the company's stock.

Insider Buying and Selling at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin bought 2,000 shares of the stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the purchase, the director directly owned 99,012 shares of the company's stock, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas C. Grissom purchased 10,000 shares of Churchill Downs stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $92.77 per share, with a total value of $927,700.00. Following the transaction, the director 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. 5.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CHDN. JMP Securities decreased their target price on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Mizuho lowered their price objective on Churchill Downs from $137.00 to $134.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Stifel Nicolaus cut their target price on Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered 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. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $139.91.

Churchill Downs Stock Up 1.3%

CHDN stock traded up $1.42 during mid-day trading on Thursday, reaching $106.80. 598,232 shares of the company traded hands, compared to its average volume of 589,211. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. The firm's 50 day moving average price is $97.80 and its 200 day moving average price is $109.72. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 2.99 and a beta of 0.95. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to analysts' expectations of $649.68 million. Churchill Downs had a return on equity of 40.73% and a net margin of 15.19%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, equities research analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs declared that its board has approved a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

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.