Oppenheimer Asset Management Inc. trimmed its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 850 shares of the company’s stock after selling 189 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Churchill Downs were worth $218,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CHDN. Vestor Capital LLC bought a new stake in shares of Churchill Downs during the first quarter worth approximately $43,000. CI Investments Inc. increased its stake in Churchill Downs by 64.3% in the fourth quarter. CI Investments Inc. now owns 230 shares of the company’s stock valued at $49,000 after purchasing an additional 90 shares in the last quarter. Signaturefd LLC increased its stake in Churchill Downs by 51.9% in the first quarter. Signaturefd LLC now owns 196 shares of the company’s stock valued at $50,000 after purchasing an additional 67 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Churchill Downs by 174.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after purchasing an additional 180 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Churchill Downs by 27.9% in the fourth quarter. Quadrant Capital Group LLC now owns 307 shares of the company’s stock valued at $65,000 after purchasing an additional 67 shares in the last quarter. 72.88% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CHDN has been the subject of several recent analyst reports. Bank of America lowered their target price on shares of Churchill Downs from $155.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Truist Financial lowered their target price on shares of Churchill Downs from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, July 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $155.00 target price on shares of Churchill Downs in a research note on Monday, August 21st. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $150.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, July 28th. Finally, StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.58.
Churchill Downs Stock Performance
Shares of CHDN opened at $127.70 on Wednesday. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 27.37 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 5.33. The firm has a fifty day simple moving average of $127.86 and a 200 day simple moving average of $131.34. Churchill Downs Incorporated has a 12 month low of $89.17 and a 12 month high of $150.45.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.26). The firm had revenue of $768.50 million during the quarter, compared to analyst estimates of $792.70 million. Churchill Downs had a net margin of 16.28% and a return on equity of 53.61%. The business’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 EPS. Research analysts forecast that Churchill Downs Incorporated will post 5.43 EPS for the current fiscal year.
Churchill Downs Profile
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.
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