Churchill Downs, Incorporated $CHDN Shares Sold by London Co. of Virginia

London Co. of Virginia trimmed its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 1.0% in the first quarter, Holdings Channel reports. The institutional investor owned 2,593,821 shares of the company’s stock after selling 26,902 shares during the period. London Co. of Virginia’s holdings in Churchill Downs were worth $233,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHDN. Geneos Wealth Management Inc. increased its holdings in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Churchill Downs during the third quarter worth approximately $25,000. Parkside Financial Bank & Trust lifted its stake in Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after purchasing an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs in the fourth quarter valued at approximately $38,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Up 3.3%

Shares of NASDAQ:CHDN opened at $86.50 on Friday. The stock has a market cap of $6.03 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.56 and a beta of 0.67. The firm has a fifty day moving average price of $86.77 and a 200 day moving average price of $91.28. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. Churchill Downs’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. Sell-side analysts predict that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Analysts Set New Price Targets

CHDN has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Citizens Jmp increased their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Mizuho increased their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Churchill Downs 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.