Simplicity Solutions LLC Buys Shares of 3,328 Churchill Downs Incorporated (NASDAQ:CHDN)

Simplicity Solutions LLC bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) during the 4th quarter, Holdings Channel.com reports. The fund bought 3,328 shares of the company’s stock, valued at approximately $449,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. State Street Corp grew its stake in Churchill Downs by 99.5% in the second quarter. State Street Corp now owns 1,838,002 shares of the company’s stock valued at $255,795,000 after purchasing an additional 916,516 shares during the last quarter. Boston Partners purchased a new position in Churchill Downs in the third quarter valued at about $47,479,000. Norges Bank purchased a new position in Churchill Downs in the fourth quarter valued at about $75,300,000. Goldman Sachs Group Inc. grew its stake in Churchill Downs by 114.4% in the second quarter. Goldman Sachs Group Inc. now owns 252,133 shares of the company’s stock valued at $35,089,000 after purchasing an additional 134,550 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Churchill Downs by 1,560.2% in the third quarter. Federated Hermes Inc. now owns 134,622 shares of the company’s stock valued at $15,622,000 after purchasing an additional 126,513 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 1.5 %

Churchill Downs stock opened at $119.30 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. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $150.45. The stock’s 50 day simple moving average is $119.59 and its two-hundred day simple moving average is $120.28. The firm has a market cap of $8.79 billion, a PE ratio of 21.87, a P/E/G ratio of 8.64 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $553.05 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. Analysts anticipate that Churchill Downs Incorporated will post 5.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Churchill Downs in a report on Wednesday, April 10th. Mizuho assumed coverage on shares of Churchill Downs in a report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $137.00 to $141.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $143.13.

Churchill Downs Company 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.