London Co. of Virginia Sells 6,140 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

London Co. of Virginia lessened its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 932,151 shares of the company’s stock after selling 6,140 shares during the period. London Co. of Virginia owned approximately 2.49% of Churchill Downs worth $239,610,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestor Capital LLC acquired a new stake in Churchill Downs in the 1st quarter valued at $43,000. CI Investments Inc. grew its holdings in shares of Churchill Downs by 64.3% during the fourth quarter. CI Investments Inc. now owns 230 shares of the company’s stock valued at $49,000 after buying an additional 90 shares during the last quarter. Signaturefd LLC increased its position in shares of Churchill Downs by 51.9% during the first quarter. Signaturefd LLC now owns 196 shares of the company’s stock worth $50,000 after acquiring an additional 67 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Churchill Downs by 11,050.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 223 shares of the company’s stock worth $57,000 after acquiring an additional 221 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Churchill Downs by 174.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 72.88% of the company’s stock.

Churchill Downs Price Performance

CHDN opened at $118.62 on Friday. Churchill Downs Incorporated has a fifty-two week low of $89.17 and a fifty-two week high of $150.45. The firm has a 50-day moving average of $126.08 and a 200 day moving average of $131.28. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $8.88 billion, a P/E ratio of 25.45 and a beta of 1.08.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 26th. The company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.26). Churchill Downs had a net margin of 16.28% and a return on equity of 53.61%. The company had revenue of $768.50 million during the quarter, compared to analysts’ expectations of $792.70 million. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm’s revenue was up 31.9% compared to the same quarter last year. On average, research analysts expect that Churchill Downs Incorporated will post 5.43 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company decreased their price objective on Churchill Downs from $150.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, July 28th. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Sunday. Truist Financial dropped their price objective on Churchill Downs from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, July 28th. Bank of America reduced their target price on shares of Churchill Downs from $155.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $155.00 price target on shares of Churchill Downs in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.58.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.