Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 89.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,027 shares of the company’s stock after selling 51,113 shares during the period. Federated Hermes Inc.’s holdings in Churchill Downs were worth $841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco LLC acquired a new stake in shares of Churchill Downs during the second quarter worth about $226,000. Texas Permanent School Fund Corp lifted its stake in Churchill Downs by 1.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 60,267 shares of the company’s stock valued at $8,413,000 after acquiring an additional 858 shares during the period. Choreo LLC lifted its stake in Churchill Downs by 30.2% during the 2nd quarter. Choreo LLC now owns 2,611 shares of the company’s stock valued at $362,000 after acquiring an additional 605 shares during the period. Arizona State Retirement System increased its stake in shares of Churchill Downs by 0.6% in the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after acquiring an additional 114 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Churchill Downs by 7.7% during the second quarter. Victory Capital Management Inc. now owns 150,895 shares of the company’s stock worth $21,065,000 after purchasing an additional 10,834 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $137.68 on Monday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50 day simple moving average of $138.60 and a two-hundred day simple moving average of $132.87. The stock has a market capitalization of $10.12 billion, a P/E ratio of 30.66, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its 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 business had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.24 earnings per share. As a group, analysts predict that Churchill Downs Incorporated will post 6.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CHDN shares. Wells Fargo & Company increased their price target on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Jefferies Financial Group upped their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Macquarie lifted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, JMP Securities increased their price target on shares of Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

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; and casino gaming.