Landscape Capital Management L.L.C. Cuts Holdings in Churchill Downs, Incorporated $CHDN

Landscape Capital Management L.L.C. lowered its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 23.3% in the third quarter, Holdings Channel reports. The institutional investor owned 65,742 shares of the company’s stock after selling 19,972 shares during the period. Landscape Capital Management L.L.C.’s holdings in Churchill Downs were worth $6,378,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. First Horizon Corp purchased a new stake in shares of Churchill Downs during the 3rd quarter worth $26,000. Quent Capital LLC purchased a new position in Churchill Downs in the third quarter valued at about $27,000. Geneos Wealth Management Inc. raised its holdings in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after purchasing an additional 232 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Churchill Downs by 1,670.6% in the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock worth $29,000 after purchasing an additional 284 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Churchill Downs by 306.9% during the second quarter. MAI Capital Management now owns 293 shares of the company’s stock valued at $30,000 after buying an additional 221 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of recent analyst reports. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Citizens Jmp increased their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Finally, Wells Fargo & Company reduced their price target on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Churchill Downs Stock Up 1.8%

Shares of CHDN traded up $1.50 during mid-day trading on Friday, hitting $85.58. 49,971 shares of the company traded hands, compared to its average volume of 942,499. The company has a market capitalization of $5.96 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.65. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 5.02. The business has a 50 day moving average of $97.39 and a 200 day moving average of $100.86. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 25th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The company had revenue of $665.90 million during the quarter, compared to analysts’ expectations of $658.01 million. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. Churchill Downs’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. Equities research analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.