American International Group Inc. Sells 4,313 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

American International Group Inc. lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,337 shares of the company’s stock after selling 4,313 shares during the period. American International Group Inc. owned 0.13% of Churchill Downs worth $12,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Churchill Downs in the fourth quarter valued at about $39,000. Vestor Capital LLC bought a new position in Churchill Downs in the 4th quarter valued at about $45,000. GAMMA Investing LLC bought a new stake in shares of Churchill Downs during the fourth quarter worth approximately $66,000. Covestor Ltd boosted its holdings in shares of Churchill Downs by 44.0% during the third quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the period. Finally, KBC Group NV acquired a new position in shares of Churchill Downs in the fourth quarter valued at approximately $149,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $136.54 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The stock has a market capitalization of $10.04 billion, a PE ratio of 30.41, a PEG ratio of 3.67 and a beta of 0.99. The firm has a 50 day moving average of $130.82 and a 200-day moving average of $125.50. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $140.45.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The firm had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs Incorporated will post 6.04 EPS for the current fiscal year.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the stock in a transaction on Monday, April 29th. The stock was purchased at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the purchase, the director now owns 28,902 shares in the company, valued at $3,763,618.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 5.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. JMP Securities reaffirmed a “market outperform” rating and set a $156.00 price target on shares of Churchill Downs in a research report on Monday, May 6th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $137.00 to $141.00 in a report on Monday, April 15th. Finally, Mizuho increased their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.25.

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; and casino gaming.