Churchill Downs, Incorporated $CHDN Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 60.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,400 shares of the company’s stock after selling 6,700 shares during the period. Skylands Capital LLC’s holdings in Churchill Downs were worth $427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. London Co. of Virginia increased its position in shares of Churchill Downs by 38.7% during the second quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after acquiring an additional 835,294 shares during the last quarter. AQR Capital Management LLC grew its stake in Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after purchasing an additional 784,591 shares in the last quarter. Jennison Associates LLC increased its holdings in Churchill Downs by 52.3% during the 3rd quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after purchasing an additional 500,395 shares during the last quarter. Norges Bank acquired a new position in shares of Churchill Downs in the 2nd quarter valued at approximately $43,935,000. Finally, Bank of America Corp DE boosted its stake in shares of Churchill Downs by 74.4% during the 2nd quarter. Bank of America Corp DE now owns 671,759 shares of the company’s stock valued at $67,848,000 after buying an additional 286,488 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 1.9%

Churchill Downs stock opened at $94.78 on Thursday. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $125.87. The company has a 50-day simple moving average of $107.76 and a 200-day simple moving average of $102.92. The firm has a market capitalization of $6.61 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.44 and a beta of 0.67.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHDN. Citizens Jmp lifted their price target on shares of Churchill Downs from $142.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 14th. Susquehanna reissued a “positive” rating and set a $124.00 price objective (down from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Finally, JPMorgan Chase & Co. cut their price objective on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $135.36.

About Churchill Downs

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.