Sapient Capital LLC Cuts Stock Holdings in Churchill Downs, Incorporated $CHDN

Sapient Capital LLC lessened its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 408,095 shares of the company’s stock after selling 10,871 shares during the period. Sapient Capital LLC owned 0.59% of Churchill Downs worth $30,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Tidal Investments LLC raised its stake in shares of Churchill Downs by 43.8% during the second quarter. Tidal Investments LLC now owns 226,804 shares of the company’s stock valued at $20,331,000 after acquiring an additional 69,098 shares in the last quarter. Engineers Gate Manager LP grew its stake in Churchill Downs by 118.8% in the second quarter. Engineers Gate Manager LP now owns 54,890 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,807 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Churchill Downs by 13.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,948 shares of the company’s stock worth $444,000 after purchasing an additional 588 shares during the period. Allworth Financial LP increased its holdings in Churchill Downs by 5.5% during the 2nd quarter. Allworth Financial LP now owns 9,102 shares of the company’s stock worth $816,000 after purchasing an additional 476 shares during the period. Finally, Nykredit A S bought a new stake in Churchill Downs during the 2nd quarter valued at $240,000. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHDN. Citizens Jmp cut their price objective on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a report on Friday, July 31st. Wolfe Research started coverage on Churchill Downs in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 target price on the stock. Susquehanna lifted their price target on Churchill Downs from $121.00 to $124.00 and gave the company a “positive” rating in a report on Friday, July 31st. Weiss Ratings raised Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Finally, Truist Financial set a $145.00 price objective on Churchill Downs in a research note on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $134.89.

Churchill Downs Stock Performance

NASDAQ:CHDN traded up $2.21 during trading hours on Thursday, hitting $76.16. 1,881,711 shares of the company were exchanged, compared to its average volume of 1,006,251. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a 52-week low of $73.08 and a 52-week high of $118.35. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.74 and a beta of 0.77. The company’s 50 day moving average price is $84.50 and its 200-day moving average price is $87.00.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.45. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same period in the previous year, the company earned $3.10 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.

Churchill Downs Profile

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.