Private Advisor Group LLC purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) 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 – Get Free Report) 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.
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