Amalgamated Bank Reduces Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Amalgamated Bank lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 8.2% in the second quarter, Holdings Channel reports. The institutional investor owned 34,854 shares of the company’s stock after selling 3,123 shares during the period. Amalgamated Bank’s holdings in Churchill Downs were worth $4,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CHDN. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs in the second quarter valued at $125,418,000. Norges Bank acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $94,137,000. Balyasny Asset Management LP boosted its holdings in shares of Churchill Downs by 113.8% in the 4th quarter. Balyasny Asset Management LP now owns 463,555 shares of the company’s stock valued at $62,547,000 after purchasing an additional 246,769 shares during the last quarter. Assenagon Asset Management SA grew its position in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management SA now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Churchill Downs in the second quarter worth about $26,384,000. Institutional investors own 82.59% of the company’s shares.

Changes in Analyst Ratings

A number of research firms have recently commented on CHDN. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a research report on Monday. August 12. Stifel Nicolaus boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Mizuho raised their target price on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Truist Financial restated a “buy” rating and set a $166.00 target price (up previously from $165.00) on shares of Churchill Downs in a research note on Friday, July 26. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $156.90, according to MarketBeat.

Check out our latest Churchill Downs review

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $137.68 on Friday. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $146.64. The company has a quick ratio of 0.57, a current ratio of 0.57, and a debt-to-equity ratio of 4.65. The firm has a market cap of $10.12 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.04 and a beta of 0.97. The company’s 50-day moving average price is $138.60 and its 200-day moving average price is $132.73.

Churchill Downs (NASDAQ:CHDN – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million for the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. In the same quarter last year, the company earned $2.24 per share. On average, sell-side analysts expect that Churchill Downs Incorporated will post 6.17 earnings per share for the current year.

Churchill Downs profile

(Free Report)

Churchill Downs Incorporated operates as a racing, online betting and gaming entertainment company in the United States. It operates through three segments: Live and Historic Racing, TwinSpires and Gaming. The Company operates pari-mutuel gaming entertainment venues; TwinSpires, an online betting platform for horse racing, sports and iGaming; retail sale of sports books; and casino games.

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