Teton Advisors Inc. Sells 1,400 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Teton Advisors Inc. reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 41.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,000 shares of the company’s stock after selling 1,400 shares during the period. Teton Advisors Inc.’s holdings in Churchill Downs were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CHDN. Cambridge Investment Research Advisors Inc. raised its holdings in Churchill Downs by 39.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,465 shares of the company’s stock valued at $1,098,000 after acquiring an additional 2,678 shares during the period. Xponance Inc. increased its holdings in shares of Churchill Downs by 1.4% during the third quarter. Xponance Inc. now owns 15,827 shares of the company’s stock worth $1,837,000 after purchasing an additional 215 shares during the period. Raymond James & Associates increased its holdings in shares of Churchill Downs by 59.6% during the third quarter. Raymond James & Associates now owns 40,317 shares of the company’s stock worth $4,678,000 after purchasing an additional 15,048 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Churchill Downs by 37.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,359 shares of the company’s stock worth $1,318,000 after purchasing an additional 3,087 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Churchill Downs by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock worth $77,615,000 after purchasing an additional 32,751 shares during the period. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CHDN. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $137.00 to $141.00 in a report on Monday, April 15th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Truist Financial lifted their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Churchill Downs Price Performance

Churchill Downs stock traded up $3.28 during mid-day trading on Thursday, reaching $133.11. The company had a trading volume of 643,983 shares, compared to its average volume of 401,657. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $150.45. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The company has a market cap of $9.78 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.66 and a beta of 0.99. The business has a fifty day simple moving average of $120.72 and a 200 day simple moving average of $121.21.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.72 earnings per share for the current year.

Insider Buying and Selling at Churchill Downs

In related news, Director Paul C. Varga bought 3,800 shares of the business’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now directly owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.13% of the company’s stock.

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.