Russell Investments Group Ltd. Decreases Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Russell Investments Group Ltd. trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,296 shares of the company’s stock after selling 10,982 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Churchill Downs worth $5,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its holdings in Churchill Downs by 4.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,575 shares of the company’s stock valued at $327,000 after acquiring an additional 121 shares in the last quarter. Lmcg Investments LLC boosted its holdings in Churchill Downs by 2.2% in the third quarter. Lmcg Investments LLC now owns 5,916 shares of the company’s stock valued at $686,000 after acquiring an additional 130 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Churchill Downs by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 32,082 shares of the company’s stock valued at $3,723,000 after acquiring an additional 130 shares in the last quarter. Argent Trust Co boosted its holdings in Churchill Downs by 5.1% in the third quarter. Argent Trust Co now owns 3,138 shares of the company’s stock valued at $364,000 after acquiring an additional 152 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Churchill Downs by 15.1% in the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after acquiring an additional 189 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.13% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Churchill Downs Price Performance

CHDN opened at $138.40 on Friday. The stock has a 50-day moving average price of $122.52 and a 200-day moving average price of $122.16. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market cap of $10.17 billion, a PE ratio of 30.82, a P/E/G ratio of 3.81 and a beta of 0.99. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $147.30.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. During the same quarter in the previous year, the firm earned $0.98 EPS. Churchill Downs’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Churchill Downs Incorporated will post 5.72 earnings per share 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.