Vanguard Group Inc. Reduces Stake in Churchill Downs, Incorporated $CHDN

Vanguard Group Inc. cut its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,359,799 shares of the company’s stock after selling 289,383 shares during the period. Vanguard Group Inc. owned 9.12% of Churchill Downs worth $616,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. First Horizon Corp purchased a new position in Churchill Downs during the 3rd quarter valued at $26,000. Quent Capital LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter worth about $27,000. Geneos Wealth Management Inc. boosted its stake in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after buying an additional 284 shares during the period. Finally, MAI Capital Management increased its position in shares of Churchill Downs by 306.9% during the second quarter. MAI Capital Management now owns 293 shares of the company’s stock valued at $30,000 after buying an additional 221 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

CHDN stock opened at $94.00 on Tuesday. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a 50 day moving average price of $103.95 and a 200-day moving average price of $102.03. Churchill Downs, Incorporated has a 52-week low of $85.58 and a 52-week high of $119.11. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.36 and a beta of 0.67.

Analyst Ratings Changes

CHDN has been the subject of several research analyst reports. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Wednesday, January 14th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Citizens Jmp lifted their price target on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $125.00 price target (up from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.10.

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.