Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Marshall Wace LLP

Marshall Wace LLP trimmed its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 34.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,169 shares of the company's stock after selling 4,723 shares during the period. Marshall Wace LLP's holdings in Churchill Downs were worth $1,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHDN. First Horizon Advisors Inc. raised its position in shares of Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company's stock valued at $114,000 after buying an additional 99 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock valued at $986,000 after buying an additional 105 shares during the last quarter. UMB Bank n.a. raised its position in shares of Churchill Downs by 59.8% in the first 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 last quarter. Arizona State Retirement System raised its position in shares of Churchill Downs by 0.6% in the second quarter. Arizona State Retirement System now owns 18,564 shares of the company's stock valued at $2,592,000 after buying an additional 114 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company's stock valued at $356,000 after buying an additional 116 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 0.7 %

Shares of CHDN stock traded down $0.96 during trading on Monday, reaching $136.57. The company's stock had a trading volume of 353,610 shares, compared to its average volume of 428,265. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.01 and a beta of 0.97. The stock's 50-day moving average price is $137.21 and its 200 day moving average price is $134.40. Churchill Downs Incorporated has a 1-year low of $106.45 and a 1-year high of $146.64.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The firm had revenue of $890.70 million during the quarter, compared to analysts' expectations of $858.59 million. During the same quarter in the previous year, the business posted $2.24 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that Churchill Downs Incorporated will post 6.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHDN shares. Mizuho increased their target price on shares of Churchill Downs from $143.00 to $157.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Macquarie raised their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Bank of America upgraded shares of Churchill Downs from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, Truist Financial restated a "buy" rating and set a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.90.

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.