Notable Price Action: Churchill Downs, Inc. Sets All-Time High; Strong Momentum for Holders

Notable Price Action: Churchill Downs, Inc. Sets All Time High; Strong Momentum for Holders

The stock of Churchill Downs, Inc. (NASDAQ:CHDN) reached all time high today, Nov, 22 and still has $160.89 target or 4.00% above today’s $154.70 share price. This indicates more upside for the $2.62 billion company. This technical setup was reported by Barchart.com. If the $160.89 PT is reached, the company will be worth $104.80 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 39,720 shares traded hands. Churchill Downs, Inc. (NASDAQ:CHDN) has risen 4.19% since April 20, 2016 and is uptrending. It has underperformed by 0.37% the S&P500.

Churchill Downs, Inc. (NASDAQ:CHDN) Ratings Coverage

Out of 4 analysts covering Churchill Downs (NASDAQ:CHDN), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Churchill Downs has been the topic of 7 analyst reports since September 14, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained it with “Outperform” rating and $172 target price in Monday, October 31 report. Telsey Advisory Group maintained it with “Outperform” rating and $175 target price in Friday, February 26 report. The firm has “Outperform” rating given on Friday, August 5 by Telsey Advisory Group. The firm earned “Outperform” rating on Monday, September 14 by Imperial Capital. Hilliard Lyons upgraded Churchill Downs, Inc. (NASDAQ:CHDN) on Friday, May 6 to “Buy” rating. JP Morgan initiated Churchill Downs, Inc. (NASDAQ:CHDN) on Thursday, September 22 with “Neutral” rating. Imperial Capital maintained Churchill Downs, Inc. (NASDAQ:CHDN) rating on Friday, October 14. Imperial Capital has “Outperform” rating and $165 price target.

According to Zacks Investment Research, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests.”

Insitutional Activity: The institutional sentiment increased to 1.55 in 2016 Q2. Its up 0.35, from 1.2 in 2016Q1. The ratio increased, as 28 funds sold all Churchill Downs, Inc. shares owned while 38 reduced positions. 24 funds bought stakes while 55 increased positions. They now own 11.39 million shares or 3.26% more from 11.03 million shares in 2016Q1.
Northern Tru Corporation last reported 0.01% of its portfolio in the stock. Manufacturers Life Insurance Com The holds 0% or 24,172 shares in its portfolio. Qs Invsts Limited Liability Co accumulated 0.02% or 22,315 shares. Gsa Capital Ltd Liability Partnership holds 0.09% of its portfolio in Churchill Downs, Inc. (NASDAQ:CHDN) for 12,326 shares. Teachers Advisors last reported 0.02% of its portfolio in the stock. Goldman Sachs Grp, a New York-based fund reported 44,479 shares. Barclays Public Limited Com reported 1,637 shares or 0% of all its holdings. Teacher Retirement Of Texas holds 0% or 1,750 shares in its portfolio. Citigroup holds 195 shares or 0% of its portfolio. Old Bankshares In has invested 0.01% of its portfolio in Churchill Downs, Inc. (NASDAQ:CHDN). Zacks reported 18,386 shares or 0.07% of all its holdings. Wells Fargo & Com Mn accumulated 9,815 shares or 0% of the stock. State Treasurer State Of Michigan holds 4,800 shares or 0% of its portfolio. Pnc Fincl Svcs holds 0.01% or 76,880 shares in its portfolio. Parthenon Ltd Liability Corp accumulated 0.96% or 30,205 shares.

Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 4 selling transactions for $2.96 million net activity. $732,710 worth of Churchill Downs, Inc. (NASDAQ:CHDN) was sold by Evans Robert L.

More recent Churchill Downs, Inc. (NASDAQ:CHDN) news were published by: Bizjournals.com which released: “Churchill Downs Inc. just sold land at one of its racetracks for $26.5 million” on November 09, 2016. Also Fool.com published the news titled: “Why Churchill Downs Inc. Stock Jumped 14% Last Month” on September 12, 2016. Bizjournals.com‘s news article titled: “Churchill Downs closes on remaining piece of Saratoga casino deal” with publication date: November 22, 2016 was also an interesting one.

CHDN Company Profile

Churchill Downs Incorporated, incorporated on February 17, 1937, is a racing, gaming and online entertainment company. The Firm is engaged in brick-and-mortar casino gaming with approximately 8,500 gaming positions in over six states, and is a legal online account wagering platform for horseracing in the United States. It operates in six divisions: Racing, Casinos, TwinSpires, Big Fish Games, Inc. (Big Fish Games), Other Investments and Corporate. It is a diversified well-known provider of casino gaming, online account wagering on horse racing, and pari-mutuel horse racing. The Firm is a producer and distributor of online and mobile casual games.

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