Sequoia Financial Advisors LLC Purchases New Shares in Churchill Downs, Incorporated (NASDAQ:CHDN)

Sequoia Financial Advisors LLC bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 78,126 shares of the company's stock, valued at approximately $8,677,000. Sequoia Financial Advisors LLC owned about 0.11% of Churchill Downs as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHDN. Blue Trust Inc. increased its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 last quarter. Central Pacific Bank Trust Division increased its position in Churchill Downs by 39.6% during 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 period. Covestor Ltd raised its holdings 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 purchasing an additional 296 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings 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 purchasing an additional 1,199 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 0.3%

CHDN stock traded up $0.35 during trading on Friday, reaching $100.95. 1,279,761 shares of the stock were exchanged, compared to its average volume of 590,242. The firm's 50 day moving average is $96.22 and its 200 day moving average is $111.62. The firm has a market cap of $7.29 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.57 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.49. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 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 for the quarter, compared to the consensus estimate of $649.68 million. During the same quarter in the prior year, the firm earned $1.13 EPS. The company's revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its board has approved a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Churchill Downs

In related news, Director R Alex Rankin acquired 2,000 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $92.65 per share, with a total value of $185,300.00. Following the completion of the purchase, the director now directly owns 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas C. Grissom bought 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $92.77 per share, for a total transaction of $927,700.00. Following the acquisition, the director now directly owns 38,869 shares of the company's stock, valued at approximately $3,605,877.13. This represents a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHDN. Macquarie reduced their price objective on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Susquehanna lowered their price objective on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. JMP Securities cut their target price on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 27th. Finally, Barclays decreased their target price on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. One research 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 currently has an average rating of "Moderate Buy" and an average price target of $139.91.

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.