Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Up 5.3% in April

Churchill Downs Incorporated (NASDAQ:CHDN) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,990,000 shares, an increase of 5.3% from the March 31st total of 1,890,000 shares. Based on an average trading volume of 399,600 shares, the short-interest ratio is currently 5.0 days.

Analyst Ratings Changes

CHDN has been the topic of a number of research analyst reports. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Stifel Nicolaus lifted their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a research note on Wednesday, April 10th. Mizuho lifted their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $137.00 to $141.00 in a research report on Monday, April 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Stock Down 0.9 %

Shares of CHDN opened at $129.00 on Wednesday. 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 has a market capitalization of $9.48 billion, a PE ratio of 28.73, a P/E/G ratio of 9.01 and a beta of 1.03. The firm’s 50 day moving average is $120.22 and its 200-day moving average is $121.02. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.35. The firm had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Equities research analysts forecast that Churchill Downs will post 5.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in Churchill Downs by 59.8% in the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after buying an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in Churchill Downs in the fourth quarter valued at approximately $39,000. Vestor Capital LLC acquired a new position in Churchill Downs during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC bought a new stake in Churchill Downs during the fourth quarter worth $66,000. Finally, Covestor Ltd boosted its holdings in shares of Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock valued at $98,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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; and casino gaming.