Rhumbline Advisers Trims Position in Churchill Downs, Incorporated $CHDN

Rhumbline Advisers decreased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 7.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,099 shares of the company’s stock after selling 13,966 shares during the quarter. Rhumbline Advisers’ holdings in Churchill Downs were worth $17,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Corp purchased a new position in shares of Churchill Downs in the third quarter valued at about $26,000. Quent Capital LLC purchased a new position in Churchill Downs in the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. boosted its stake in Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares during the period. Farther Finance Advisors LLC boosted its stake in Churchill Downs by 1,670.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock worth $29,000 after purchasing an additional 284 shares during the period. Finally, MAI Capital Management grew its holdings in Churchill Downs by 306.9% during the 2nd quarter. MAI Capital Management now owns 293 shares of the company’s stock valued at $30,000 after buying an additional 221 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CHDN has been the topic of several research analyst reports. Barclays boosted their target price on shares of Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Macquarie Infrastructure restated an “outperform” rating and set a $155.00 price objective on shares of Churchill Downs in a research report on Friday, October 24th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $125.00 price target (up previously from $115.00) on shares of Churchill Downs in a report on Monday, January 5th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.10.

Churchill Downs Stock Down 1.4%

Shares of NASDAQ CHDN opened at $87.97 on Wednesday. The firm has a 50-day simple moving average of $105.84 and a two-hundred day simple moving average of $102.32. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $125.87. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $6.13 billion, a P/E ratio of 15.99, a PEG ratio of 1.33 and a beta of 0.67.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.