Analysts at KeyCorp assumed coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research note issued to investors on Wednesday, The Fly reports. The firm set an "overweight" rating on the stock.
A number of other analysts also recently commented on the company. 140166 raised Churchill Downs from a "neutral" rating to a "positive" rating and decreased their price target for the company from $185.00 to $180.00 in a research report on Friday, September 25th. Bank of America initiated coverage on Churchill Downs in a research report on Monday, January 4th. They issued a "buy" rating and a $235.00 target price for the company. Finally, Zacks Investment Research downgraded Churchill Downs from a "hold" rating to a "sell" rating in a research report on Wednesday, December 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Churchill Downs presently has a consensus rating of "Buy" and an average price target of $191.00.
Shares of CHDN traded down $7.89 on Wednesday, reaching $204.19. 166,209 shares of the company's stock traded hands, compared to its average volume of 212,514. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 5.81. The stock has a market cap of $8.06 billion, a PE ratio of -84.73 and a beta of 1.37. The stock's 50 day simple moving average is $197.66 and its two-hundred day simple moving average is $169.76. Churchill Downs has a 52-week low of $52.90 and a 52-week high of $215.14.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.19 EPS for the quarter, beating the Zacks' consensus estimate of $0.75 by $0.44. The company had revenue of $337.80 million during the quarter, compared to the consensus estimate of $288.12 million. Churchill Downs had a positive return on equity of 11.09% and a negative net margin of 8.99%. Analysts forecast that Churchill Downs will post 0.61 earnings per share for the current year.
In other news, COO William E. Mudd sold 6,000 shares of Churchill Downs stock in a transaction on Monday, December 21st. The stock was sold at an average price of $202.97, for a total value of $1,217,820.00. Following the completion of the transaction, the chief operating officer now directly owns 271,552 shares in the company, valued at $55,116,909.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO William E. Mudd sold 4,998 shares of Churchill Downs stock in a transaction on Thursday, December 24th. The shares were sold at an average price of $205.26, for a total value of $1,025,889.48. Following the completion of the transaction, the chief operating officer now owns 251,354 shares of the company's stock, valued at $51,592,922.04. The disclosure for this sale can be found here. Company insiders own 4.28% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CHDN. FMR LLC grew its position in shares of Churchill Downs by 13.0% in the second quarter. FMR LLC now owns 3,532,338 shares of the company's stock valued at $470,331,000 after purchasing an additional 406,639 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Churchill Downs by 58.2% during the third quarter. Artemis Investment Management LLP now owns 537,401 shares of the company's stock valued at $88,116,000 after buying an additional 197,601 shares during the period. Victory Capital Management Inc. boosted its stake in Churchill Downs by 26.6% during the third quarter. Victory Capital Management Inc. now owns 758,830 shares of the company's stock valued at $124,312,000 after buying an additional 159,620 shares during the period. Great West Life Assurance Co. Can boosted its stake in Churchill Downs by 547.9% during the third quarter. Great West Life Assurance Co. Can now owns 116,294 shares of the company's stock valued at $763,000 after buying an additional 98,344 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Churchill Downs by 82.0% during the third quarter. JPMorgan Chase & Co. now owns 114,941 shares of the company's stock valued at $19,075,000 after buying an additional 51,777 shares during the period. Institutional investors own 73.01% of the company's stock.
About Churchill Downs
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Churchill Downs, Online Wagering, and Gaming. The company owns and operates Derby City Gaming, a historical racing machine in Louisville, Kentucky; online horse racing wagering platform, TwinSpires.com; and offers sports betting and iGaming through BetAmerica platform.
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