PNC Financial Services Group Inc. Sells 8,541 Shares of Churchill Downs, Incorporated $CHDN

PNC Financial Services Group Inc. decreased its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,619 shares of the company’s stock after selling 8,541 shares during the period. PNC Financial Services Group Inc.’s holdings in Churchill Downs were worth $5,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CHDN. Geneos Wealth Management Inc. lifted its holdings in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares in the last quarter. Elequin Capital LP purchased a new position in Churchill Downs in the 1st quarter worth about $29,000. Signaturefd LLC raised its position in Churchill Downs by 161.1% in the 2nd quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after buying an additional 203 shares during the last quarter. Huntington National Bank lifted its stake in Churchill Downs by 534.3% during the 2nd quarter. Huntington National Bank now owns 425 shares of the company’s stock valued at $43,000 after acquiring an additional 358 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Churchill Downs by 132.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock valued at $47,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 0.5%

CHDN opened at $99.29 on Monday. The firm’s 50 day simple moving average is $96.42 and its two-hundred day simple moving average is $99.44. The company has a market capitalization of $6.92 billion, a PE ratio of 18.05, a PEG ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $144.23. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The firm had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. During the same quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a $0.438 dividend. The ex-dividend date is Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. This represents a yield of 46.0%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.82%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CHDN shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Susquehanna reissued a “positive” rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Barclays raised their price target on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Macquarie reiterated an “outperform” rating and set a $155.00 price objective on shares of Churchill Downs in a research report on Friday, October 24th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average target price of $137.60.

Churchill Downs 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; casino gaming; and Terre Haute Casino Resort.