ProShare Advisors LLC Lowers Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

ProShare Advisors LLC lowered its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,154 shares of the company’s stock after selling 158 shares during the period. ProShare Advisors LLC’s holdings in Churchill Downs were worth $440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Churchill Downs by 59.8% during the 1st 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. Central Pacific Bank Trust Division bought a new stake in Churchill Downs during the first quarter valued at $44,000. CWM LLC grew its position in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after buying an additional 118 shares in the last quarter. Bank & Trust Co bought a new position in Churchill Downs in the 2nd quarter worth about $84,000. Finally, GAMMA Investing LLC raised its holdings in shares of Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $135.93 on Wednesday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs Incorporated has a one year low of $106.45 and a one year high of $146.64. The business’s 50 day simple moving average is $137.52 and its two-hundred day simple moving average is $133.87. The stock has a market capitalization of $9.99 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.24 EPS. Analysts forecast that Churchill Downs Incorporated will post 6.13 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CHDN. Truist Financial restated a “buy” rating and issued a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Stifel Nicolaus increased their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Jefferies Financial Group increased their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs 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.