Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,650,000 shares, a drop of 11.8% from the June 15th total of 1,870,000 shares. Based on an average daily trading volume, of 516,400 shares, the short-interest ratio is presently 3.2 days.

Churchill Downs Stock Down 0.8 %

NASDAQ CHDN traded down $1.18 during trading on Wednesday, hitting $143.04. 267,654 shares of the company traded hands, compared to its average volume of 440,524. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The business has a fifty day simple moving average of $136.84 and a 200 day simple moving average of $127.59. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The company has a market capitalization of $10.51 billion, a P/E ratio of 31.86, a PEG ratio of 3.20 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $565.41 million. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Churchill Downs will post 6.03 EPS for the current year.

Insider Transactions at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price 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 approximately $3,763,618.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently made changes to their positions in the business. UMB Bank n.a. increased its stake in shares of Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after purchasing an additional 107 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Churchill Downs in the fourth quarter worth about $39,000. Vestor Capital LLC bought a new position in shares of Churchill Downs in the fourth quarter worth about $45,000. Central Pacific Bank Trust Division bought a new position in shares of Churchill Downs in the first quarter worth about $44,000. Finally, CWM LLC increased its stake in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHDN. Wells Fargo & Company lifted their price objective on Churchill Downs from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Jefferies Financial Group lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Mizuho lifted their price objective on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price objective on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $148.11.

Churchill Downs Company Profile

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.