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

London Co. of Virginia lowered its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,620,723 shares of the company’s stock after selling 229,384 shares during the period. Churchill Downs makes up approximately 1.7% of London Co. of Virginia’s portfolio, making the stock its 22nd largest position. London Co. of Virginia’s holdings in Churchill Downs were worth $298,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors lifted its stake in Churchill Downs by 16.3% in the 3rd quarter. Capital International Investors now owns 3,098,598 shares of the company’s stock valued at $300,595,000 after buying an additional 434,669 shares in the last quarter. State Street Corp lifted its stake in Churchill Downs by 0.6% in the 4th quarter. State Street Corp now owns 1,956,295 shares of the company’s stock valued at $223,424,000 after buying an additional 11,523 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Churchill Downs by 0.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock valued at $157,482,000 after buying an additional 7,687 shares in the last quarter. Geode Capital Management LLC lifted its stake in Churchill Downs by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock valued at $151,089,000 after buying an additional 32,445 shares in the last quarter. Finally, Boston Partners lifted its stake in Churchill Downs by 0.9% in the 3rd quarter. Boston Partners now owns 1,257,725 shares of the company’s stock valued at $121,998,000 after buying an additional 11,653 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 2.6%

Shares of Churchill Downs stock opened at $89.86 on Wednesday. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.46. The firm has a market cap of $6.26 billion, a PE ratio of 16.64, a P/E/G ratio of 0.61 and a beta of 0.68. The business’s fifty day moving average is $89.74 and its two-hundred day moving average is $96.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million for the quarter, compared to analyst estimates of $659.32 million. During the same quarter in the prior year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citizens Jmp upped their target price on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Weiss Ratings lowered Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Truist Financial set a $145.00 target price on Churchill Downs in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.00.

About Churchill Downs

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.