Churchill Downs Incorporated (NASDAQ:CHDN) Stake Lowered by Sage Investment Advisers LLC

Sage Investment Advisers LLC lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,810 shares of the company’s stock after selling 1,350 shares during the quarter. Churchill Downs accounts for 4.4% of Sage Investment Advisers LLC’s investment portfolio, making the stock its 4th largest position. Sage Investment Advisers LLC’s holdings in Churchill Downs were worth $3,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CHDN. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Churchill Downs in the fourth quarter valued at $39,000. Vestor Capital LLC acquired a new position in Churchill Downs during the fourth quarter worth about $45,000. GAMMA Investing LLC purchased a new stake in shares of Churchill Downs in the fourth quarter valued at about $66,000. KBC Group NV acquired a new stake in shares of Churchill Downs in the fourth quarter valued at approximately $149,000. Finally, Fifth Third Bancorp increased its stake in shares of Churchill Downs by 15.1% during the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.5 %

CHDN stock traded down $0.74 on Thursday, hitting $140.00. 189,806 shares of the company were exchanged, compared to its average volume of 430,930. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 3.75 and a beta of 0.99. The business’s fifty day moving average is $133.38 and its two-hundred day moving average is $126.65. Churchill Downs Incorporated has a twelve month low of $106.45 and a twelve month high of $141.58. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.04 earnings per share for the current year.

Insider Transactions at Churchill Downs

In other news, Director Paul C. Varga bought 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now owns 28,902 shares of the company’s stock, valued at $3,763,618.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHDN shares. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Mizuho upped their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and issued a $156.00 price objective on shares of Churchill Downs in a research report on Monday, May 6th. Finally, Wells Fargo & Company raised shares of 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 note on Monday, April 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

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.