Artemis Investment Management LLP Sells 7,880 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Artemis Investment Management LLP cut its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,194 shares of the company’s stock after selling 7,880 shares during the quarter. Artemis Investment Management LLP owned about 0.46% of Churchill Downs worth $45,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHDN. William Blair Investment Management LLC acquired a new position in Churchill Downs during the second quarter worth about $125,418,000. Balyasny Asset Management L.P. raised its position in Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock valued at $62,547,000 after buying an additional 246,769 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Churchill Downs in the 2nd quarter valued at $26,384,000. Finally, Capital International Investors raised its position in Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after acquiring an additional 177,900 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CHDN shares. Macquarie raised their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Mizuho boosted their price objective on Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Up 1.8 %

NASDAQ:CHDN opened at $139.03 on Wednesday. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $146.64. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The firm’s 50-day moving average price is $137.13 and its 200-day moving average price is $134.55. The company has a market capitalization of $10.22 billion, a PE ratio of 30.96, a P/E/G ratio of 2.01 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter last year, the company earned $2.24 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts predict that Churchill Downs Incorporated will post 6.13 EPS for the current fiscal year.

Churchill Downs Company 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.