TIAA Trust National Association Sells 1,750 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

TIAA Trust National Association lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 38.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,750 shares of the company’s stock after selling 1,750 shares during the quarter. TIAA Trust National Association’s holdings in Churchill Downs were worth $340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of Churchill Downs by 59.8% during the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after purchasing an additional 107 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Churchill Downs in the 4th quarter valued at $39,000. Vestor Capital LLC purchased a new position in Churchill Downs in the fourth quarter valued at about $45,000. Central Pacific Bank Trust Division bought a new position in shares of Churchill Downs during the 1st quarter worth approximately $44,000. Finally, GAMMA Investing LLC purchased a new position in Churchill Downs in the fourth quarter worth $66,000. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho boosted their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on shares of Churchill Downs from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JMP Securities upped their target price on Churchill Downs from $156.00 to $158.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 17th. Finally, Truist Financial raised their target price on Churchill Downs from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $151.11.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of Churchill Downs stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $130.22 per share, with a total value of $494,836.00. Following the purchase, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The acquisition was disclosed in a filing with the SEC, which is available at this link. 5.13% of the stock is owned by company insiders.

Churchill Downs Stock Performance

CHDN stock traded up $0.02 during trading on Monday, hitting $140.13. 256,465 shares of the company traded hands, compared to its average volume of 437,677. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a market cap of $10.30 billion, a PE ratio of 31.20, a P/E/G ratio of 3.10 and a beta of 0.97. The stock’s 50-day simple moving average is $136.91 and its 200 day simple moving average is $127.66. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50.

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. The firm had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities analysts expect that Churchill Downs Incorporated will post 6.03 earnings per share for the current fiscal year.

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.