Gabelli Funds LLC Trims Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Gabelli Funds LLC trimmed its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,000 shares of the company’s stock after selling 1,700 shares during the period. Gabelli Funds LLC owned 0.19% of Churchill Downs worth $19,544,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Churchill Downs during the first quarter valued at approximately $44,000. CWM LLC boosted its stake in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the last quarter. Bank & Trust Co purchased a new position in Churchill Downs during the 2nd quarter valued at approximately $84,000. Finally, GAMMA Investing LLC increased its stake in Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

CHDN has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and set a $166.00 target price (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Mizuho increased their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.90.

Churchill Downs Stock Down 2.1 %

Shares of NASDAQ CHDN opened at $137.68 on Monday. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The firm has a 50-day simple moving average of $138.60 and a two-hundred day simple moving average of $132.87. The company has a market cap of $10.12 billion, a P/E ratio of 30.66, a PEG ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $2.24 EPS. Research analysts anticipate that Churchill Downs Incorporated will post 6.17 earnings per share for the current year.

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.