Ameritas Investment Partners Inc. Sells 761 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Ameritas Investment Partners Inc. cut its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,027 shares of the company’s stock after selling 761 shares during the period. Ameritas Investment Partners Inc.’s holdings in Churchill Downs were worth $3,913,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted 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 valued at $35,000 after acquiring an additional 107 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Churchill Downs in the first quarter valued at approximately $44,000. CWM LLC boosted its holdings in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 118 shares during the last quarter. Bank & Trust Co bought a new stake in Churchill Downs in the second quarter valued at approximately $84,000. Finally, GAMMA Investing LLC boosted its holdings in Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after acquiring an additional 257 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Trading Down 2.1 %

Shares of Churchill Downs stock opened at $137.68 on Friday. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The firm has a market cap of $10.12 billion, a PE ratio of 30.66, a P/E/G ratio of 2.04 and a beta of 0.97. The stock has a fifty day moving average price of $138.60 and a 200-day moving average price of $132.58. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.18. The company had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.24 EPS. Equities research analysts anticipate that Churchill Downs Incorporated will post 6.17 EPS for the current year.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Churchill Downs from $150.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. JMP Securities upped their target price on Churchill Downs from $158.00 to $166.00 and gave the stock a “market outperform” rating in a research report on Friday, July 26th. Jefferies Financial Group upped their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $156.90.

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.