Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,890,000 shares, a decrease of 6.0% from the March 15th total of 2,010,000 shares. Based on an average trading volume of 367,600 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $137.00 to $141.00 in a research report on Monday. Mizuho assumed coverage on Churchill Downs in a research note on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price objective on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.13.

Churchill Downs Trading Down 2.4 %

Shares of CHDN opened at $121.08 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. Churchill Downs has a 12-month low of $106.45 and a 12-month high of $150.45. The firm has a market capitalization of $8.92 billion, a PE ratio of 22.22 and a beta of 1.03. The stock’s fifty day simple moving average is $119.66 and its 200-day simple moving average is $120.29.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The business had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, research analysts predict that Churchill Downs will post 5.58 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

Several large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its stake in Churchill Downs by 181.3% in the first quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after buying an additional 145 shares during the period. Castleview Partners LLC acquired a new position in Churchill Downs in the second quarter valued at about $38,000. Rockefeller Capital Management L.P. lifted its stake in Churchill Downs by 174.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after buying an additional 180 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in Churchill Downs in the fourth quarter valued at about $39,000. Finally, Vestor Capital LLC acquired a new position in Churchill Downs in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.