Sapient Capital LLC Sells 10,871 Shares of Churchill Downs, Incorporated $CHDN

Sapient Capital LLC lowered its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 408,095 shares of the company’s stock after selling 10,871 shares during the period. Sapient Capital LLC’s holdings in Churchill Downs were worth $30,885,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs during the second quarter worth $29,000. Root Financial Partners LLC boosted its holdings in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Twin Tree Management LP purchased a new position in Churchill Downs in the second quarter valued at $36,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Churchill Downs in the first quarter worth about $50,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Susquehanna upped their price objective on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Truist Financial set a $145.00 price target on Churchill Downs in a research report on Friday, June 12th. Mizuho increased their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.89.

Churchill Downs Trading Up 3.0%

NASDAQ:CHDN traded up $2.21 on Thursday, hitting $76.16. The stock had a trading volume of 1,881,711 shares, compared to its average volume of 1,006,251. The company has a fifty day moving average price of $84.50 and a two-hundred day moving average price of $87.00. Churchill Downs, Incorporated has a 1-year low of $73.08 and a 1-year high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.74 and a beta of 0.77.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.45. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.10 EPS. Equities research analysts expect that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Churchill Downs Profile

Churchill Downs Incorporated is a gaming, racing and entertainment company headquartered in Louisville, Kentucky. The company traces its origins to Churchill Downs Racetrack, which hosted the first Kentucky Derby in 1875 and remains its flagship property. Churchill Downs Incorporated operates and supports Thoroughbred racing, pari-mutuel wagering, casino gaming and related hospitality businesses.

The company’s operations include live and historical horse-racing venues, traditional casinos and historical racing-machine facilities.