Amalgamated Bank Sells 3,249 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,084 shares of the company’s stock after selling 3,249 shares during the period. Amalgamated Bank owned 0.07% of Churchill Downs worth $6,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $66,000. Covestor Ltd boosted its position in shares of Churchill Downs by 44.0% during the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock valued at $98,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after buying an additional 189 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Churchill Downs in the 4th quarter worth about $208,000. Finally, ARS Wealth Advisors Group LLC purchased a new position in Churchill Downs in the third quarter worth about $209,000. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CHDN. Stifel Nicolaus raised their price objective on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Mizuho increased their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Truist Financial increased their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upgraded 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 research report on Monday, April 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $134.02 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The stock’s fifty day moving average price is $121.21 and its 200-day moving average price is $121.56. The firm has a market cap of $9.85 billion, a P/E ratio of 29.85, a P/E/G ratio of 3.81 and a beta of 0.99. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $148.61.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, equities research analysts expect that Churchill Downs Incorporated will post 5.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Churchill Downs

In other news, Director Paul C. Varga purchased 3,800 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.13% of the stock is owned by insiders.

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.