Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 32.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the company’s stock after selling 2,132 shares during the quarter. TIAA Trust National Association’s holdings in Churchill Downs were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CHDN. Castleview Partners LLC acquired a new position in shares of Churchill Downs during the 2nd quarter valued at about $38,000. Vestor Capital LLC increased its stake in shares of Churchill Downs by 100.0% during the 2nd quarter. Vestor Capital LLC now owns 332 shares of the company’s stock valued at $46,000 after acquiring an additional 166 shares during the last quarter. Belpointe Asset Management LLC increased its position in Churchill Downs by 181.3% during the 1st quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock worth $58,000 after purchasing an additional 145 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Churchill Downs by 174.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock worth $59,000 after purchasing an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Churchill Downs by 28.9% during the 2nd quarter. Harbour Investments Inc. now owns 459 shares of the company’s stock worth $64,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of analyst reports. Wells Fargo & Company cut Churchill Downs from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $135.00 to $137.00 in a report on Friday, January 5th. JMP Securities increased their target price on Churchill Downs from $148.00 to $150.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. Finally, Mizuho began coverage on Churchill Downs in a research note on Tuesday, March 26th. They set a “buy” rating and a $142.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.63.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $119.51 on Friday. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $150.45. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The business’s fifty day moving average price is $119.48 and its two-hundred day moving average price is $119.87. The firm has a market capitalization of $8.81 billion, a PE ratio of 21.91 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.18. The firm had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, research analysts expect that Churchill Downs Incorporated will post 5.44 EPS for the current year.

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; and casino gaming.