Cardinal Strategic Wealth Guidance Cuts Stock Position in Churchill Downs, Incorporated $CHDN

Cardinal Strategic Wealth Guidance cut its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 50.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,651 shares of the company’s stock after selling 2,706 shares during the quarter. Cardinal Strategic Wealth Guidance’s holdings in Churchill Downs were worth $268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares during the period. Elequin Capital LP purchased a new position in Churchill Downs during the first quarter worth $29,000. Signaturefd LLC boosted its stake in Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after buying an additional 203 shares during the period. Private Trust Co. NA boosted its stake in Churchill Downs by 154.9% during the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after buying an additional 330 shares during the period. Finally, State of Wyoming purchased a new position in Churchill Downs during the first quarter worth $60,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 0.0%

Shares of CHDN opened at $95.98 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a fifty day moving average price of $101.11 and a 200-day moving average price of $101.09. The firm has a market capitalization of $6.73 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.79 and a beta of 0.83. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.07. The firm had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 earnings per share. Equities research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Analysts Set New Price Targets

CHDN has been the subject of several recent analyst reports. Macquarie lifted their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Barclays boosted their target price on shares of Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They set an “overweight” rating and a $116.00 target price for the company. Finally, Truist Financial lowered their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.