Churchill Downs Incorporated (NASDAQ:CHDN) Position Lessened by Congress Asset Management Co. MA

Congress Asset Management Co. MA decreased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,624 shares of the company’s stock after selling 3,294 shares during the period. Congress Asset Management Co. MA’s holdings in Churchill Downs were worth $3,323,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $39,000. Vestor Capital LLC bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $45,000. GAMMA Investing LLC bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $66,000. Covestor Ltd lifted its holdings in shares of Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after purchasing an additional 259 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $149,000. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CHDN. Truist Financial lifted their target price on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Mizuho lifted their target price on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their target price on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $139.85 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 3.67 and a beta of 0.99. The stock’s fifty day simple moving average is $131.19 and its 200 day simple moving average is $125.67. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $140.45.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts forecast that Churchill Downs Incorporated will post 6.04 earnings per share for the current fiscal year.

Insider Transactions at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.13% of the stock is currently owned by insiders.

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: 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.