BidaskClub Downgrades Churchill Downs (NASDAQ:CHDN) to Buy
CHDN has been the topic of a number of other reports. ValuEngine lowered Churchill Downs from a sell rating to a strong sell rating in a report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on Churchill Downs from $135.00 to $150.00 and gave the stock a buy rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Susquehanna Bancshares started coverage on shares of Churchill Downs in a research report on Wednesday, July 24th. They issued a positive rating and a $140.00 target price for the company. Zacks Investment Research upgraded shares of Churchill Downs from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Telsey Advisory Group upped their price target on shares of Churchill Downs from $120.00 to $135.00 and gave the company an outperform rating in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $132.20.
Churchill Downs stock opened at $122.68 on Friday. Churchill Downs has a 12 month low of $74.58 and a 12 month high of $132.73. The stock’s 50 day moving average is $121.30 and its 200-day moving average is $105.49. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.46 and a beta of 1.20.
In other news, SVP Austin W. Miller sold 5,900 shares of Churchill Downs stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $117.31, for a total value of $692,129.00. Following the completion of the sale, the senior vice president now directly owns 40,494 shares in the company, valued at $4,750,351.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Churchill Downs by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock worth $36,695,000 after acquiring an additional 16,314 shares during the period. Strs Ohio raised its holdings in Churchill Downs by 146.2% in the 1st quarter. Strs Ohio now owns 3,200 shares of the company’s stock valued at $288,000 after acquiring an additional 1,900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Churchill Downs by 4,057.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,442 shares of the company’s stock valued at $672,000 after acquiring an additional 7,263 shares during the period. Bank of Montreal Can lifted its position in shares of Churchill Downs by 110.8% during the 1st quarter. Bank of Montreal Can now owns 1,031 shares of the company’s stock valued at $93,000 after acquiring an additional 542 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Churchill Downs by 139.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,098 shares of the company’s stock valued at $189,000 after acquiring an additional 1,220 shares during the period. 71.45% of the stock is currently owned by institutional investors and hedge funds.
About Churchill Downs
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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