Strategy Asset Managers LLC Invests $221,000 in Churchill Downs Incorporated (NASDAQ:CHDN)

Strategy Asset Managers LLC acquired a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 974 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Churchill Downs by 1,850.0% during the first quarter. CWM LLC now owns 117 shares of the company’s stock worth $27,000 after acquiring an additional 111 shares during the last quarter. CI Investments Inc. boosted its position in shares of Churchill Downs by 55.4% during the fourth quarter. CI Investments Inc. now owns 202 shares of the company’s stock worth $39,000 after acquiring an additional 72 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Churchill Downs during the first quarter worth $65,000. Marshall Wace North America L.P. boosted its position in shares of Churchill Downs by 200.0% during the first quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after acquiring an additional 520 shares during the last quarter. Finally, Invictus RG bought a new position in shares of Churchill Downs during the fourth quarter worth $77,000. 72.15% of the stock is owned by hedge funds and other institutional investors.

In other Churchill Downs news, SVP Austin W. Miller sold 400 shares of the firm’s stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $225.47, for a total transaction of $90,188.00. Following the transaction, the senior vice president now owns 30,951 shares of the company’s stock, valued at approximately $6,978,521.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Austin W. Miller sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $199.27, for a total transaction of $597,810.00. Following the completion of the sale, the senior vice president now owns 25,149 shares in the company, valued at $5,011,441.23. The disclosure for this sale can be found here. Insiders sold a total of 6,400 shares of company stock worth $1,302,308 in the last ninety days. 4.28% of the stock is currently owned by insiders.

CHDN has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $244.00 target price for the company in a research report on Friday, May 14th. KeyCorp increased their price objective on shares of Churchill Downs from $239.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, March 1st. Finally, Zacks Investment Research upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Churchill Downs currently has an average rating of “Buy” and a consensus target price of $216.50.

Churchill Downs stock opened at $198.50 on Friday. The business has a 50-day moving average price of $207.17. The company has a market cap of $7.65 billion, a price-to-earnings ratio of -342.24 and a beta of 1.34. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 9.71. Churchill Downs Incorporated has a 12-month low of $121.56 and a 12-month high of $258.32.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Tuesday, April 20th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.31. The firm had revenue of $324.30 million during the quarter, compared to analyst estimates of $290.95 million. Churchill Downs had a negative net margin of 1.99% and a positive return on equity of 21.83%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. Equities analysts forecast that Churchill Downs Incorporated will post 5.53 EPS for the current year.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Churchill Downs, Online Wagering, and Gaming. As of March 18, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; seven retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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