Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC lessened its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,914 shares of the company’s stock after selling 4,201 shares during the quarter. Churchill Downs makes up approximately 2.3% of Atlanta Consulting Group Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Atlanta Consulting Group Advisors LLC owned approximately 0.06% of Churchill Downs worth $6,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP boosted its holdings in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Churchill Downs during the 3rd quarter worth approximately $18,368,000. Raymond James Financial Inc. bought a new position in shares of Churchill Downs during the 4th quarter worth approximately $16,015,000. State Street Corp boosted its holdings in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after buying an additional 114,018 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Churchill Downs by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after buying an additional 96,910 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Stifel Nicolaus cut their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. Mizuho cut their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $110.50 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock’s fifty day simple moving average is $120.98 and its two-hundred day simple moving average is $132.07. Churchill Downs Incorporated has a 1-year low of $105.18 and a 1-year high of $150.21. The stock has a market cap of $8.13 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. As a group, analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About Churchill Downs

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; casino gaming; and Terre Haute Casino Resort.