Sage Investment Advisers LLC Sells 100 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Sage Investment Advisers LLC lowered its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 32,160 shares of the company’s stock after selling 100 shares during the period. Churchill Downs makes up approximately 5.3% of Sage Investment Advisers LLC’s holdings, making the stock its 3rd largest holding. Sage Investment Advisers LLC’s holdings in Churchill Downs were worth $4,339,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CHDN. Benjamin F. Edwards & Company Inc. purchased a new stake in Churchill Downs in the 4th quarter worth about $39,000. GAMMA Investing LLC bought a new position in shares of Churchill Downs during the fourth quarter valued at about $66,000. Covestor Ltd grew its holdings in Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp lifted 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 buying an additional 189 shares during the period. Finally, TCI Wealth Advisors Inc. bought a new position in Churchill Downs in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CHDN shares. Truist Financial lifted their target price on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a report on Monday. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Mizuho increased their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Churchill Downs Trading Up 0.7 %

Shares of NASDAQ:CHDN traded up $1.02 during mid-day trading on Wednesday, reaching $139.10. 450,951 shares of the company were exchanged, compared to its average volume of 406,961. The firm’s 50-day simple moving average is $121.85 and its 200 day simple moving average is $121.92. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $147.30. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 3.81 and a beta of 0.99. 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 posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating 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 company had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the firm earned $0.98 earnings per share. Churchill Downs’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Churchill Downs Incorporated will post 5.72 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul C. Varga purchased 3,800 shares of Churchill Downs stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $130.22 per share, with a total value of $494,836.00. Following the completion of the transaction, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.13% of the stock is owned by corporate insiders.

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.