First Trust Advisors LP increased its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,797 shares of the company’s stock after buying an additional 1,278 shares during the quarter. First Trust Advisors LP owned 0.05% of Churchill Downs, worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in CHDN. BlackRock Inc. increased its stake in shares of Churchill Downs, by 23,504.2% in the first quarter. BlackRock Inc. now owns 1,301,301 shares of the company’s stock valued at $206,713,000 after buying an additional 1,295,788 shares during the period. Victory Capital Management Inc. increased its stake in shares of Churchill Downs, by 31,916.5% in the first quarter. Victory Capital Management Inc. now owns 262,215 shares of the company’s stock valued at $41,653,000 after buying an additional 261,396 shares during the period. FMR LLC increased its stake in shares of Churchill Downs, by 25.7% in the first quarter. FMR LLC now owns 737,671 shares of the company’s stock valued at $117,179,000 after buying an additional 150,623 shares during the period. Cypress Funds LLC acquired a new position in shares of Churchill Downs, in the second quarter valued at approximately $22,271,000. Finally, UBS Group AG increased its stake in shares of Churchill Downs, by 1,376.3% in the first quarter. UBS Group AG now owns 86,377 shares of the company’s stock valued at $13,721,000 after buying an additional 80,526 shares during the period. 73.84% of the stock is owned by institutional investors.

In other Churchill Downs, news, Director Robert L. Evans sold 5,000 shares of Churchill Downs, stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $198.25, for a total value of $991,250.00. Following the transaction, the director now directly owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.44% of the company’s stock.

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) opened at 204.15 on Friday. The firm has a market cap of $3.29 billion, a P/E ratio of 27.90 and a beta of 0.88. Churchill Downs, Incorporated has a 52-week low of $131.70 and a 52-week high of $204.75. The firm’s 50-day moving average is $193.60 and its 200-day moving average is $174.75.

Churchill Downs, (NASDAQ:CHDN) last released its earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.51 by $0.30. The company had revenue of $451.90 million during the quarter, compared to the consensus estimate of $439.33 million. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. Churchill Downs,’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.11 EPS. Analysts anticipate that Churchill Downs, Incorporated will post $6.79 earnings per share for the current year.

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Several research analysts have recently issued reports on CHDN shares. BidaskClub raised Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Churchill Downs, from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Telsey Advisory Group upped their price objective on Churchill Downs, from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, Imperial Capital upped their price objective on Churchill Downs, from $184.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $194.75.

Churchill Downs, Company Profile

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.

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

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