Victory Capital Management Inc. Purchases 8,695 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Victory Capital Management Inc. increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) by 7.2% in the first quarter, Holdings Channel.com reports. The fund owned 130,171 shares of the company’s stock after purchasing an additional 8,695 shares during the period. Victory Capital Management Inc.’s holdings in Churchill Downs were worth $28,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Churchill Downs during the fourth quarter worth $26,000. CWM LLC purchased a new stake in Churchill Downs during the fourth quarter valued at $28,000. Sageworth Trust Co of South Dakota purchased a new stake in Churchill Downs during the fourth quarter valued at $43,000. Covestor Ltd purchased a new stake in Churchill Downs during the fourth quarter valued at $62,000. Finally, Ellevest Inc. raised its stake in Churchill Downs by 39.3% during the first quarter. Ellevest Inc. now owns 287 shares of the company’s stock valued at $64,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CHDN. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $270.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. KeyCorp set a $280.00 price target on shares of Churchill Downs in a research note on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.00.

Churchill Downs Trading Up 0.2 %

Shares of CHDN opened at $209.87 on Wednesday. Churchill Downs Incorporated has a twelve month low of $172.75 and a twelve month high of $262.20. The company has a market cap of $7.91 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.42 and a beta of 1.11. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 5.23. The company’s fifty day simple moving average is $199.90 and its 200-day simple moving average is $207.85.

Churchill Downs (NASDAQ:CHDNGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported $3.90 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.09). Churchill Downs had a net margin of 28.52% and a return on equity of 78.89%. The firm had revenue of $582.50 million during the quarter, compared to analysts’ expectations of $592.06 million. During the same period in the prior year, the company posted $3.08 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, analysts expect that Churchill Downs Incorporated will post 8.26 EPS for the current year.

Churchill Downs Company Profile

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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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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

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