Voya Investment Management LLC Decreases Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Voya Investment Management LLC has reduced its stake in Churchill Downs by 17.2%, selling 59,767 shares, and currently holds approximately 0.40% of the company valued at $31.9 million.
• Other hedge funds have also made notable moves in Churchill Downs, with SG Americas Securities LLC increasing their position by an astounding 28,864.9% during the first quarter.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, surpassing analyst expectations, and has a consensus rating of "Buy" with an average price target of $136.50.

Voya Investment Management LLC lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 17.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,189 shares of the company's stock after selling 59,767 shares during the quarter. Voya Investment Management LLC owned about 0.40% of Churchill Downs worth $31,898,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CHDN. Envestnet Asset Management Inc. raised its stake in Churchill Downs by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company's stock worth $34,073,000 after buying an additional 11,460 shares during the period. Aurora Investment Counsel bought a new stake in shares of Churchill Downs during the first quarter valued at approximately $2,675,000. Teacher Retirement System of Texas raised its position in shares of Churchill Downs by 19.3% during the first quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company's stock worth $1,218,000 after purchasing an additional 1,774 shares during the period. Millennium Management LLC lifted its holdings in shares of Churchill Downs by 29.4% in the 4th quarter. Millennium Management LLC now owns 264,431 shares of the company's stock worth $35,312,000 after purchasing an additional 60,080 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Churchill Downs in the 1st quarter worth $8,677,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHDN has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Macquarie upped their target price on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Susquehanna raised their price target 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, JMP Securities decreased their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Churchill Downs presently has a consensus rating of "Buy" and an average target price of $136.50.

Churchill Downs Stock Up 0.1%

CHDN stock traded up $0.09 during trading on Tuesday, reaching $96.07. The stock had a trading volume of 523,892 shares, compared to its average volume of 702,394. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company's 50 day moving average is $104.10 and its two-hundred day moving average is $102.37. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.80 and a beta of 0.86.

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

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.