Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,108 shares of the company’s stock after selling 1,514 shares during the period. Federated Hermes Inc. owned approximately 0.18% of Churchill Downs worth $17,960,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its holdings in Churchill Downs by 90.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock valued at $2,657,000 after purchasing an additional 10,868 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after acquiring an additional 38,298 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares during the period. Vanguard Group Inc. grew its position in Churchill Downs by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after acquiring an additional 56,318 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Churchill Downs by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 1.5 %

Shares of Churchill Downs stock opened at $120.74 on Tuesday. The business has a 50-day moving average price of $119.46 and a 200 day moving average price of $120.48. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $150.45. The firm has a market cap of $8.90 billion, a P/E ratio of 22.13, a P/E/G ratio of 8.29 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.68 by $0.18. The company had revenue of $561.20 million during 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 business’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. On average, sell-side analysts forecast that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHDN. Mizuho started coverage on shares of Churchill Downs in a report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.13.

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.