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

Churchill Downs Incorporated (NASDAQ:CHDN) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,870,000 shares, a growth 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 presently 3.7 days.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of Churchill Downs stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the acquisition, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Churchill Downs

Several large investors have recently bought and sold shares of CHDN. UMB Bank n.a. increased its holdings in Churchill Downs by 59.8% in the first quarter. UMB Bank n.a. now owns 286 shares of the company’s stock worth $35,000 after purchasing an additional 107 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Churchill Downs during the fourth quarter worth about $39,000. Central Pacific Bank Trust Division purchased a new position in shares of Churchill Downs in the 1st quarter worth about $44,000. Vestor Capital LLC purchased a new stake in Churchill Downs during the 4th quarter valued at about $45,000. Finally, GAMMA Investing LLC bought a new position in Churchill Downs during the 4th quarter valued at approximately $66,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.1 %

CHDN stock traded down $0.10 during midday trading on Tuesday, reaching $138.46. The stock had a trading volume of 561,698 shares, compared to its average volume of 443,806. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $141.57. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 3.75 and a beta of 0.97. The business has a fifty day simple moving average of $134.88 and a two-hundred day simple moving average of $126.99.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.35. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, research analysts expect that Churchill Downs will post 6.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHDN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Stifel Nicolaus increased their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Mizuho raised their target price on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $137.00 to $141.00 in a report on Monday, April 15th. Finally, Truist Financial lifted their price target 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.25.

Churchill Downs Company Profile

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.