EULAV Asset Management Sells 60,400 Shares of Churchill Downs, Incorporated $CHDN

EULAV Asset Management cut its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 22.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 209,862 shares of the company’s stock after selling 60,400 shares during the quarter. EULAV Asset Management’s holdings in Churchill Downs were worth $23,878,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in shares of Churchill Downs by 167.7% during the fourth quarter. Parallel Advisors LLC now owns 415 shares of the company’s stock valued at $47,000 after buying an additional 260 shares during the period. Westfield Capital Management Co. LP bought a new stake in Churchill Downs in the fourth quarter valued at $493,000. Cibc World Market Inc. bought a new stake in Churchill Downs in the fourth quarter valued at $234,000. Natixis Advisors LLC boosted its holdings in Churchill Downs by 71.6% in the fourth quarter. Natixis Advisors LLC now owns 458,801 shares of the company’s stock valued at $52,202,000 after acquiring an additional 191,390 shares in the last quarter. Finally, Sage Investment Advisers LLC bought a new stake in Churchill Downs in the fourth quarter valued at $2,314,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CHDN. Weiss Ratings cut shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Citizens Jmp lifted their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, April 24th. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Trading Up 0.9%

Shares of NASDAQ CHDN opened at $86.92 on Friday. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.46. The stock has a market cap of $6.06 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The firm has a 50-day moving average of $89.63 and a 200 day moving average of $97.39. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

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

Churchill Downs Profile

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.