PNC Financial Services Group Inc. Decreases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

PNC Financial Services Group Inc. reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 10.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 67,665 shares of the company’s stock after selling 7,976 shares during the period. PNC Financial Services Group Inc.’s holdings in Churchill Downs were worth $9,036,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CHDN. Atria Investments Inc increased its stake in Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after purchasing an additional 224 shares during the period. Venturi Wealth Management LLC grew its position in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after buying an additional 90 shares during the last quarter. Versor Investments LP bought a new stake in shares of Churchill Downs in the 3rd quarter worth approximately $473,000. WCM Investment Management LLC bought a new stake in shares of Churchill Downs in the 3rd quarter worth approximately $15,231,000. Finally, Winslow Asset Management Inc. grew its position in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after buying an additional 90 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CHDN shares. Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus cut their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Mizuho cut their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Trading Down 0.9 %

NASDAQ CHDN opened at $108.60 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a twelve month low of $107.01 and a twelve month high of $150.21. The firm has a market capitalization of $7.99 billion, a PE ratio of 19.12, a P/E/G ratio of 2.95 and a beta of 0.93. The stock’s 50 day moving average is $122.44 and its 200 day moving average is $132.69.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Research analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs 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; casino gaming; and Terre Haute Casino Resort.