Van ECK Associates Corp reduced its stake in Churchill Downs, Inc. (NASDAQ:CHDN) by 28.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,814 shares of the company’s stock after selling 716 shares during the period. Van ECK Associates Corp’s holdings in Churchill Downs were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in shares of Churchill Downs by 12.5% in the second quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock valued at $91,525,000 after buying an additional 34,295 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Churchill Downs by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 207,251 shares of the company’s stock valued at $61,449,000 after buying an additional 2,427 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Churchill Downs by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 128,462 shares of the company’s stock valued at $38,087,000 after buying an additional 3,671 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Churchill Downs by 0.9% in the first quarter. Loomis Sayles & Co. L P now owns 98,862 shares of the company’s stock valued at $24,127,000 after buying an additional 903 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Churchill Downs in the second quarter valued at approximately $28,872,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

NASDAQ CHDN opened at $271.45 on Tuesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 1.29. Churchill Downs, Inc. has a fifty-two week low of $198.90 and a fifty-two week high of $314.60. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, August 1st. The company reported $7.71 earnings per share for the quarter, topping the consensus estimate of $7.43 by $0.28. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. The firm had revenue of $379.40 million during the quarter, compared to analysts’ expectations of $371.30 million. During the same period in the prior year, the company earned $4.81 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. analysts predict that Churchill Downs, Inc. will post 10.72 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the company. BidaskClub upgraded Churchill Downs from a “strong sell” rating to a “sell” rating in a research note on Saturday. ValuEngine cut Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Jefferies Financial Group set a $317.00 price target on Churchill Downs and gave the company a “hold” rating in a research note on Monday, August 6th. Finally, Zacks Investment Research cut Churchill Downs from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $314.00.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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