Churchill Downs, Incorporated (NASDAQ:CHDN) Holdings Cut by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its holdings in Churchill Downs, owning 6,774,570 shares valued at approximately $752.45 million after a 0.5% decrease during the first quarter.
• Churchill Downs reported $3.10 earnings per share for the last quarter, surpassing expectations, with a quarterly revenue increase of 4.9% year-over-year.
• Institutional investors hold 82.59% of Churchill Downs' stock, indicating strong support from large financial entities.

Vanguard Group Inc. lowered its stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,774,570 shares of the company's stock after selling 33,751 shares during the quarter. Vanguard Group Inc. owned approximately 9.38% of Churchill Downs worth $752,451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Churchill Downs by 159.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock valued at $46,000 after purchasing an additional 253 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in 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 purchasing an additional 129 shares in the last quarter. Private Trust Co. NA increased its holdings in Churchill Downs by 154.9% in the 1st quarter. Private Trust Co. NA now owns 543 shares of the company's stock valued at $60,000 after purchasing an additional 330 shares in the last quarter. Ossiam increased its holdings in Churchill Downs by 2,292.7% in the 4th quarter. Ossiam now owns 1,962 shares of the company's stock valued at $262,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in Churchill Downs in the 4th quarter valued at $293,000. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Down 1.0%

Shares of CHDN stock traded down $1.00 during trading hours on Friday, hitting $102.58. 627,722 shares of the company were exchanged, compared to its average volume of 653,546. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The business's 50-day simple moving average is $103.74 and its two-hundred day simple moving average is $105.26. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.92 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million for the quarter, compared to analysts' expectations of $924.36 million. During the same quarter last year, the company posted $2.89 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHDN. Mizuho increased their price target on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Stifel Nicolaus upped their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Susquehanna upped their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a research report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.50.

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.