GAMMA Investing LLC Sells 133 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

GAMMA Investing LLC reduced its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 355 shares of the company’s stock after selling 133 shares during the quarter. GAMMA Investing LLC’s holdings in Churchill Downs were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in shares of Churchill Downs by 0.5% during the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after purchasing an additional 37,065 shares in the last quarter. Capital International Investors lifted its holdings in shares of Churchill Downs by 6.1% during the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock valued at $321,508,000 after purchasing an additional 136,197 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Churchill Downs by 8.3% during the third quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock valued at $126,051,000 after purchasing an additional 83,214 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Churchill Downs by 98.1% during the fourth quarter. Boston Partners now owns 810,564 shares of the company’s stock valued at $109,347,000 after purchasing an additional 401,319 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

Shares of CHDN opened at $139.37 on Wednesday. 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 business has a 50-day simple moving average of $132.99 and a two-hundred day simple moving average of $126.55. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 3.73 and a beta of 0.99. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $141.14.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. The business had revenue of $590.90 million during 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, analysts expect that Churchill Downs Incorporated will post 6.04 EPS for the current year.

Insider Buying and Selling

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Truist Financial increased their target price on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $137.00 to $141.00 in a report on Monday, April 15th. Stifel Nicolaus increased their target price on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company 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.