SG Americas Securities LLC lowered its position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) by 18.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,501 shares of the company’s stock after selling 1,466 shares during the quarter. SG Americas Securities LLC’s holdings in Churchill Downs were worth $866,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in shares of Churchill Downs by 164.8% during the second quarter. Valeo Financial Advisors LLC now owns 331 shares of the company’s stock worth $44,000 after buying an additional 206 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $785,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Churchill Downs during the second quarter worth $263,000. Exchange Traded Concepts LLC acquired a new stake in shares of Churchill Downs during the second quarter worth $3,605,000. Finally, Fruth Investment Management acquired a new stake in shares of Churchill Downs during the second quarter worth $239,000. 73.32% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on CHDN shares. Zacks Investment Research downgraded Churchill Downs from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price target on Churchill Downs from $138.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. ValuEngine upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Finally, BidaskClub cut Churchill Downs from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $150.33.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.02. Churchill Downs had a positive return on equity of 4.40% and a negative net margin of 12.04%. The firm had revenue of $185.10 million for the quarter, compared to analysts’ expectations of $120.03 million. During the same quarter in the previous year, the business posted $2.83 earnings per share. The business’s revenue for the quarter was down 61.2% on a year-over-year basis. As a group, analysts expect that Churchill Downs, Inc. will post 1.33 earnings per share for the current year.
In other Churchill Downs news, COO William E. Mudd sold 4,138 shares of Churchill Downs stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $139.19, for a total value of $575,968.22. Following the transaction, the chief operating officer now owns 276,583 shares in the company, valued at $38,497,587.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Austin W. Miller sold 12,000 shares of Churchill Downs stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $126.54, for a total value of $1,518,480.00. Following the completion of the transaction, the senior vice president now owns 40,925 shares in the company, valued at approximately $5,178,649.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,138 shares of company stock worth $3,332,448. Company insiders own 4.28% of the company’s stock.
Churchill Downs Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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