Sage Investment Advisers LLC Has $4.34 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Sage Investment Advisers LLC cut its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,160 shares of the company’s stock after selling 100 shares during the quarter. Churchill Downs makes up about 5.3% of Sage Investment Advisers LLC’s holdings, making the stock its 3rd biggest position. Sage Investment Advisers LLC’s holdings in Churchill Downs were worth $4,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Churchill Downs by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,328 shares of the company’s stock valued at $71,827,000 after acquiring an additional 16,074 shares during the period. TCI Wealth Advisors Inc. acquired a new stake in shares of Churchill Downs in the 4th quarter valued at $203,000. Sapient Capital LLC bought a new stake in shares of Churchill Downs in the 4th quarter worth about $11,277,000. M&T Bank Corp increased its position in shares of Churchill Downs by 5.2% during the 4th quarter. M&T Bank Corp now owns 2,399 shares of the company’s stock worth $324,000 after purchasing an additional 118 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Churchill Downs during the 4th quarter valued at about $39,000. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHDN. Stifel Nicolaus increased their price objective on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a report on Friday, April 26th. Mizuho lifted their price target on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $137.00 to $141.00 in a report on Monday, April 15th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Truist Financial boosted their price target on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Insider Activity at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga acquired 3,800 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $130.22 per share, with a total value of $494,836.00. Following the transaction, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is currently owned by insiders.

Churchill Downs Stock Performance

Churchill Downs stock traded up $1.02 during mid-day trading on Wednesday, reaching $139.10. The company’s stock had a trading volume of 450,951 shares, compared to its average volume of 406,961. The firm’s fifty day moving average price is $121.85 and its two-hundred day moving average price is $121.92. Churchill Downs Incorporated has a 12-month low of $106.45 and a 12-month high of $147.30. The company has a market capitalization of $10.22 billion, a P/E ratio of 30.75, a PEG ratio of 3.81 and a beta of 0.99. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS 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 the consensus estimate 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 was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Sell-side analysts predict that Churchill Downs Incorporated will post 5.72 EPS for the current fiscal year.

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.