Churchill Downs (NASDAQ:CHDN) Shares Down 5.7% – Should You Sell?

Churchill Downs, Incorporated (NASDAQ:CHDN) shares dropped 5.7% during trading on Monday . The stock traded as low as $93.18 and last traded at $93.0030. Approximately 399,972 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 958,432 shares. The stock had previously closed at $98.65.

Wall Street Analyst Weigh In

CHDN has been the subject of several research analyst reports. Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Mizuho raised their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Finally, Citizens Jmp raised their target price on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Stock Down 0.4%

The stock’s 50 day simple moving average is $90.29 and its two-hundred day simple moving average is $99.27. The firm has a market cap of $6.43 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.61 and a beta of 0.73. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts forecast that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its position in shares of Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares in the last quarter. First Horizon Corp bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $26,000. Finally, Quent Capital LLC bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $27,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.