Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Update

Churchill Downs Incorporated (NASDAQ:CHDN) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 1,890,000 shares, a decline of 6.0% from the March 15th total of 2,010,000 shares. Based on an average daily trading volume, of 367,600 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

A number of research firms have recently commented on CHDN. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $137.00 to $141.00 in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Mizuho began coverage on Churchill Downs in a research report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price target on the stock. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.13.

Churchill Downs Trading Up 1.6 %

Shares of Churchill Downs stock traded up $1.91 on Tuesday, hitting $124.10. 408,719 shares of the company’s stock traded hands, compared to its average volume of 365,744. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The company has a fifty day moving average of $119.62 and a two-hundred day moving average of $120.23. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 22.40 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The company had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, sell-side analysts expect that Churchill Downs will post 5.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CHDN. Cambridge Investment Research Advisors Inc. raised its stake in Churchill Downs by 16.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock worth $996,000 after buying an additional 631 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in Churchill Downs by 78.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock worth $152,000 after buying an additional 300 shares during the period. Citigroup Inc. raised its stake in Churchill Downs by 24.8% during the 1st quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock worth $4,845,000 after buying an additional 4,345 shares during the period. BlackRock Inc. raised its stake in Churchill Downs by 2.2% during the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after buying an additional 73,505 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in Churchill Downs by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock worth $4,389,000 after buying an additional 1,467 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

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: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.