Private Advisor Group LLC Invests $935,000 in Churchill Downs Incorporated (NASDAQ:CHDN)

Private Advisor Group LLC purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,637 shares of the company’s stock, valued at approximately $935,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vestor Capital LLC purchased a new position in Churchill Downs during the first quarter valued at $7,098,000. Norges Bank purchased a new position in Churchill Downs during the fourth quarter valued at $75,300,000. ArrowMark Colorado Holdings LLC lifted its position in Churchill Downs by 44.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 570,249 shares of the company’s stock valued at $120,568,000 after purchasing an additional 174,525 shares in the last quarter. Jennison Associates LLC raised its holdings in Churchill Downs by 73.6% during the fourth quarter. Jennison Associates LLC now owns 218,435 shares of the company’s stock valued at $46,184,000 after acquiring an additional 92,612 shares during the period. Finally, BlackRock Inc. raised its holdings in Churchill Downs by 2.2% during the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock valued at $749,830,000 after acquiring an additional 73,505 shares during the period. 72.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHDN shares. Bank of America decreased their price target on Churchill Downs from $155.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, July 31st. Wells Fargo & Company decreased their price target on Churchill Downs from $150.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. JMP Securities reissued a “market outperform” rating and set a $155.00 price target on shares of Churchill Downs in a report on Monday, August 21st. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Truist Financial decreased their price target on Churchill Downs from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $142.58.

Churchill Downs Trading Up 1.6 %

Shares of CHDN stock opened at $127.70 on Wednesday. Churchill Downs Incorporated has a 12-month low of $89.17 and a 12-month high of $150.45. 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 stock’s 50-day moving average price is $127.86 and its 200-day moving average price is $131.34. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 27.37 and a beta of 1.09.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 26th. The company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.26). The firm had revenue of $768.50 million during the quarter, compared to the consensus estimate of $792.70 million. Churchill Downs had a return on equity of 53.61% and a net margin of 16.28%. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. Equities research analysts predict 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.