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

Truist Financial Corp lowered its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 65.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Several other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Churchill Downs by 1.5% in the third quarter. Allworth Financial LP now owns 7,549 shares of the company’s stock worth $732,000 after purchasing an additional 109 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Churchill Downs by 4.7% in the third quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after purchasing an additional 118 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Churchill Downs by 1.1% in the fourth quarter. Park Avenue Securities LLC now owns 12,132 shares of the company’s stock worth $1,380,000 after purchasing an additional 136 shares during the period. Aurora Investment Counsel increased its holdings in shares of Churchill Downs by 0.6% in the third quarter. Aurora Investment Counsel now owns 24,702 shares of the company’s stock worth $2,396,000 after purchasing an additional 146 shares during the period. Finally, Nebula Research & Development LLC increased its holdings in shares of Churchill Downs by 4.8% in the second quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock worth $346,000 after purchasing an additional 158 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CHDN. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Wells Fargo & Company reaffirmed 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. Mizuho increased their target price on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Citizens Jmp raised their price target on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

Churchill Downs Trading Up 1.1%

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

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data 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 return on equity of 43.50% and a net margin of 13.21%.The firm 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. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts forecast that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

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.