Amalgamated Bank Decreases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,084 shares of the company’s stock after selling 3,249 shares during the quarter. Amalgamated Bank’s holdings in Churchill Downs were worth $6,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC lifted its stake in shares of Churchill Downs by 4.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,575 shares of the company’s stock worth $327,000 after acquiring an additional 121 shares in the last quarter. Lmcg Investments LLC boosted its stake in shares of Churchill Downs by 2.2% during the 3rd quarter. Lmcg Investments LLC now owns 5,916 shares of the company’s stock valued at $686,000 after buying an additional 130 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Churchill Downs by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 32,082 shares of the company’s stock worth $3,723,000 after buying an additional 130 shares in the last quarter. Argent Trust Co increased its stake in shares of Churchill Downs by 5.1% in the third quarter. Argent Trust Co now owns 3,138 shares of the company’s stock worth $364,000 after buying an additional 152 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Churchill Downs by 15.1% in the fourth quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock valued at $194,000 after acquiring an additional 189 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Churchill Downs news, Director Paul C. Varga purchased 3,800 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the acquisition, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.13% of the stock is owned by insiders.

Churchill Downs Trading Up 0.7 %

Shares of NASDAQ CHDN opened at $134.02 on Monday. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $148.61. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 3.81 and a beta of 0.99. 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’s 50 day simple moving average is $121.21 and its 200 day simple moving average is $121.56.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The company had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that Churchill Downs Incorporated will post 5.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CHDN shares. Mizuho raised their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Truist Financial upped their price objective on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $137.00 to $141.00 in a 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 company. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

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.