Sequoia Financial Advisors LLC bought 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 filing with the Securities & Exchange Commission. The firm bought 78,126 shares of the company's stock, valued at approximately $8,677,000. Sequoia Financial Advisors LLC owned 0.11% of Churchill Downs at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after acquiring an additional 253 shares during the period. Central Pacific Bank Trust Division increased its stake in Churchill Downs by 39.6% during the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the period. Covestor Ltd increased its stake in Churchill Downs by 46.8% during the 4th quarter. Covestor Ltd now owns 929 shares of the company's stock worth $124,000 after acquiring an additional 296 shares during the period. Finally, Larson Financial Group LLC increased its stake in Churchill Downs by 119,900.0% during the 4th 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 own 82.59% of the company's stock.
Churchill Downs Price Performance
Shares of CHDN stock traded up $0.05 during trading hours on Monday, reaching $101.00. The company's stock had a trading volume of 633,621 shares, compared to its average volume of 587,751. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.49. 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 market capitalization of $7.30 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.61 and a beta of 0.94. The firm's 50 day simple moving average is $96.23 and its 200-day simple moving average is $110.74.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $649.68 million. During the same period last year, the business earned $1.13 EPS. The company's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs announced that its board has authorized a stock buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.
Insider Buying and Selling at Churchill Downs
In other news, Director Douglas C. Grissom acquired 10,000 shares of the business's 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 acquisition, the director directly owned 38,869 shares in the company, valued at $3,605,877.13. The trade was a 34.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director R Alex Rankin acquired 2,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the acquisition, the director owned 99,012 shares in the company, valued at $9,173,461.80. This represents a 2.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.34% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on CHDN. Barclays lowered their price objective on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Susquehanna lowered their price objective on Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial lowered their price objective on Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Mizuho lowered their price objective on Churchill Downs from $137.00 to $134.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They set an "overweight" rating and a $116.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.91.
View Our Latest Analysis on CHDN
Churchill Downs Company Profile
(
Free Report)
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.
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