Amalgamated Bank Sells 3,123 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank reduced its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,854 shares of the company’s stock after selling 3,123 shares during the period. Amalgamated Bank’s holdings in Churchill Downs were worth $4,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. UMB Bank n.a. lifted its position in Churchill Downs by 59.8% during the first 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 shares of Churchill Downs in the 1st quarter valued at about $44,000. CWM LLC lifted its holdings in shares of Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 118 shares during the last quarter. Bank & Trust Co purchased a new position in Churchill Downs in the second quarter worth about $84,000. Finally, GAMMA Investing LLC increased its stake in Churchill Downs by 72.4% during the second 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. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. Macquarie boosted 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. Jefferies Financial Group raised 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 Thursday, July 11th. Wells Fargo & Company upped 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, Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $137.68 on Friday. The firm’s 50 day simple moving average is $138.60 and its 200-day simple moving average is $132.73. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The firm has a market cap of $10.12 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $858.59 million. During the same period last year, the business posted $2.24 EPS. Churchill Downs’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts predict that Churchill Downs Incorporated will post 6.17 EPS for the current year.

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.