Oppenheimer Asset Management Inc. Sells 703 Shares of Churchill Downs, Inc. (NASDAQ:CHDN)

Oppenheimer Asset Management Inc. reduced its holdings in Churchill Downs, Inc. (NASDAQ:CHDN) by 13.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,546 shares of the company’s stock after selling 703 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Churchill Downs were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Churchill Downs by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,416 shares of the company’s stock valued at $968,000 after buying an additional 86 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Churchill Downs by 3.0% in the 2nd quarter. Advisor Partners LLC now owns 3,434 shares of the company’s stock valued at $395,000 after acquiring an additional 99 shares during the period. Shine Investment Advisory Services Inc. lifted its holdings in shares of Churchill Downs by 14.1% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 808 shares of the company’s stock worth $93,000 after acquiring an additional 100 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Churchill Downs by 2.5% in the 2nd quarter. Van ECK Associates Corp now owns 4,848 shares of the company’s stock worth $558,000 after acquiring an additional 117 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Churchill Downs by 6.0% in the 2nd quarter. Aperio Group LLC now owns 3,216 shares of the company’s stock worth $370,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.

In other Churchill Downs news, SVP Austin W. Miller sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $117.31, for a total value of $692,129.00. Following the completion of the transaction, the senior vice president now owns 40,494 shares of the company’s stock, valued at approximately $4,750,351.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.05% of the company’s stock.

Several research firms recently weighed in on CHDN. BidaskClub downgraded shares of Churchill Downs from a “strong-buy” rating to a “buy” rating in a report on Saturday. Telsey Advisory Group upped their price target on Churchill Downs from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, July 1st. ValuEngine cut Churchill Downs from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Susquehanna Bancshares initiated coverage on Churchill Downs in a research report on Wednesday, July 24th. They set a “positive” rating and a $140.00 price target for the company. Finally, Jefferies Financial Group lifted their price objective on Churchill Downs from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Churchill Downs has an average rating of “Hold” and an average price target of $132.20.

Shares of NASDAQ CHDN traded up $1.38 during midday trading on Wednesday, hitting $124.06. The company’s stock had a trading volume of 4,737 shares, compared to its average volume of 194,034. The business’s fifty day simple moving average is $121.30 and its two-hundred day simple moving average is $105.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.13 and a quick ratio of 1.13. Churchill Downs, Inc. has a 1 year low of $74.58 and a 1 year high of $132.73. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.01). Churchill Downs had a net margin of 15.76% and a return on equity of 34.23%. The business had revenue of $477.40 million during the quarter, compared to analyst estimates of $469.85 million. During the same quarter last year, the firm posted $7.71 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts anticipate that Churchill Downs, Inc. will post 4.29 EPS for the current fiscal year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

Featured Article: Put Option Volume

Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs, Inc. (NASDAQ:CHDN).

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

Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.