Truist Financial Corp Sells 21,466 Shares of Churchill Downs, Incorporated $CHDN

Truist Financial Corp reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 65.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,228 shares of the company’s stock after selling 21,466 shares during the quarter. Truist Financial Corp’s holdings in Churchill Downs were worth $1,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHDN. Measured Wealth Private Client Group LLC bought a new position in shares of Churchill Downs during the third quarter valued at about $25,000. First Horizon Corp bought a new position in shares of Churchill Downs during the third quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of Churchill Downs during the third quarter valued at about $27,000. Geneos Wealth Management Inc. grew its stake in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Churchill Downs in the third quarter worth about $45,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Up 1.1%

NASDAQ CHDN opened at $86.73 on Friday. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $6.05 billion, a PE ratio of 16.06, a PEG ratio of 0.57 and a beta of 0.73. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.46. The business’s 50-day moving average is $89.39 and its 200 day moving average is $98.75.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. During the same period last year, the firm earned $1.07 earnings per share. Churchill Downs’s quarterly revenue was up 3.1% on a year-over-year basis. Sell-side analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CHDN shares. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Citizens Jmp raised their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research note on Friday, April 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Mizuho raised their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

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.