Churchill Downs Target of Unusually High Options Trading (NASDAQ:CHDN)

Churchill Downs, Incorporated (NASDAQ:CHDN) was the target of some unusual options trading activity on Thursday. Stock investors purchased 7,643 put options on the company. This is an increase of approximately 640% compared to the average volume of 1,033 put options.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho boosted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Citizens Jmp upped their price target on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research report on Thursday, April 16th. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

Churchill Downs Price Performance

Shares of CHDN stock traded down $1.78 during trading on Thursday, hitting $90.47. The company had a trading volume of 135,219 shares, compared to its average volume of 964,484. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock’s 50-day moving average is $90.29 and its two-hundred day moving average is $99.27. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.61 and a beta of 0.73. Churchill Downs has a 52 week low of $80.24 and a 52 week high of $118.46.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. Churchill Downs’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, analysts predict that Churchill Downs will post 7.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs in the third quarter valued at $25,000. First Horizon Corp bought a new position in Churchill Downs in the third quarter valued at $26,000. Quent Capital LLC bought a new position in Churchill Downs during the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.