Churchill Downs Incorporated (NASDAQ:CHDN) Short Interest Up 6.9% in June

Churchill Downs Incorporated (NASDAQ:CHDN) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,870,000 shares, an increase of 6.9% from the May 31st total of 1,750,000 shares. Based on an average trading volume of 505,200 shares, the short-interest ratio is currently 3.7 days.

Insider Transactions at Churchill Downs

In other news, Director Paul C. Varga acquired 3,800 shares of the stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the completion of the transaction, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after purchasing an additional 257 shares during the last quarter. Boston Partners boosted its position in shares of Churchill Downs by 4.4% during the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after acquiring an additional 35,587 shares during the last quarter. Community Trust & Investment Co. boosted its position in shares of Churchill Downs by 19.5% during the first quarter. Community Trust & Investment Co. now owns 129,913 shares of the company’s stock worth $16,077,000 after acquiring an additional 21,200 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its position in Churchill Downs by 48.7% during the first quarter. Strategic Wealth Partners Ltd. now owns 8,969 shares of the company’s stock valued at $1,110,000 after purchasing an additional 2,936 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Churchill Downs in the first quarter valued at $235,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHDN shares. Truist Financial upped their target price on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $137.00 to $141.00 in a report on Monday, April 15th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a research report on Monday, May 6th. Finally, Stifel Nicolaus lifted their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Churchill Downs Stock Down 0.1 %

NASDAQ:CHDN traded down $0.10 during mid-day trading on Tuesday, hitting $138.46. 561,698 shares of the company’s stock were exchanged, compared to its average volume of 443,806. Churchill Downs has a one year low of $106.45 and a one year high of $141.57. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The business has a fifty day moving average price of $134.88 and a 200 day moving average price of $126.99. The company has a market cap of $10.18 billion, a PE ratio of 30.84, a P/E/G ratio of 3.75 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.35. The business had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Equities analysts predict that Churchill Downs will post 6.04 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: 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.