Bleakley Financial Group LLC Acquires New Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Bleakley Financial Group LLC acquired a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,354 shares of the company’s stock, valued at approximately $453,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC lifted its stake in shares of Churchill Downs by 181.3% during the first quarter. Belpointe Asset Management LLC now owns 225 shares of the company’s stock valued at $58,000 after buying an additional 145 shares during the period. Castleview Partners LLC purchased a new position in shares of Churchill Downs during the second quarter valued at approximately $38,000. Rockefeller Capital Management L.P. lifted its stake in shares of Churchill Downs by 174.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 283 shares of the company’s stock valued at $59,000 after buying an additional 180 shares during the period. Vestor Capital LLC lifted its stake in shares of Churchill Downs by 100.0% during the second quarter. Vestor Capital LLC now owns 332 shares of the company’s stock valued at $46,000 after buying an additional 166 shares during the period. Finally, Ossiam lifted its stake in shares of Churchill Downs by 5,012.5% during the first quarter. Ossiam now owns 409 shares of the company’s stock valued at $105,000 after buying an additional 401 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHDN. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a research note on Wednesday. Mizuho began coverage on shares of Churchill Downs in a research note on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $137.00 price target on shares of Churchill Downs in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Churchill Downs Price Performance

Churchill Downs stock opened at $120.73 on Friday. Churchill Downs Incorporated has a 52-week low of $106.45 and a 52-week high of $150.45. The firm has a fifty day moving average of $119.55 and a 200-day moving average of $120.14. The firm has a market capitalization of $8.90 billion, a P/E ratio of 22.13 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company 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 business earned $0.73 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, analysts predict that Churchill Downs Incorporated will post 5.5 EPS for the current year.

Churchill Downs Profile

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.