SG Americas Securities LLC Boosts Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

SG Americas Securities LLC raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 40.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,632 shares of the company’s stock after acquiring an additional 2,214 shares during the period. SG Americas Securities LLC’s holdings in Churchill Downs were worth $1,030,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CHDN. BlackRock Inc. grew its stake in Churchill Downs by 99.3% in the 2nd quarter. BlackRock Inc. now owns 5,976,445 shares of the company’s stock worth $831,742,000 after buying an additional 2,977,747 shares in the last quarter. State Street Corp grew its position in Churchill Downs by 99.5% in the second quarter. State Street Corp now owns 1,838,002 shares of the company’s stock worth $255,795,000 after acquiring an additional 916,516 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Churchill Downs by 82.6% in the second quarter. ArrowMark Colorado Holdings LLC now owns 1,085,642 shares of the company’s stock valued at $151,089,000 after acquiring an additional 491,219 shares during the last quarter. Boston Partners purchased a new stake in Churchill Downs during the third quarter valued at about $47,479,000. Finally, Norges Bank bought a new position in shares of Churchill Downs during the 4th quarter valued at about $75,300,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $123.75 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34. The company has a 50-day moving average price of $119.50 and a 200-day moving average price of $119.76. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 22.69 and a beta of 1.03. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45.

Churchill Downs (NASDAQ:CHDNGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The business had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. During the same quarter in the prior year, the company posted $0.73 EPS. Churchill Downs’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHDN. JMP Securities upped their price objective on shares of Churchill Downs from $148.00 to $150.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. Mizuho started coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. Finally, Wells Fargo & Company cut Churchill Downs from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $135.00 to $137.00 in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Check Out Our Latest Research Report on CHDN

Churchill Downs Profile

(Free Report)

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. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.

Further Reading

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

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