Van ECK Associates Corp Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Van ECK Associates Corp raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,868 shares of the company’s stock after buying an additional 669 shares during the quarter. Van ECK Associates Corp’s holdings in Churchill Downs were worth $1,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. Boston Partners purchased a new stake in Churchill Downs in the 3rd quarter valued at about $47,479,000. Jennison Associates LLC grew its holdings in shares of Churchill Downs by 28.9% during the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock worth $108,359,000 after purchasing an additional 179,814 shares during the period. Federated Hermes Inc. grew its holdings in shares of Churchill Downs by 1,560.2% during the 3rd quarter. Federated Hermes Inc. now owns 134,622 shares of the company’s stock worth $15,622,000 after purchasing an additional 126,513 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Churchill Downs by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after purchasing an additional 83,214 shares during the period. Finally, Sapient Capital LLC purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $9,913,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Insider Buying and Selling at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $130.22 per share, with a total value of $494,836.00. Following the transaction, the director now directly owns 28,902 shares in the company, valued at approximately $3,763,618.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHDN. Wells Fargo & Company upgraded Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $137.00 to $141.00 in a report on Monday, April 15th. Mizuho boosted their target price on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus boosted their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, April 26th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, JMP Securities restated a “market outperform” rating and issued a $156.00 price target on shares of Churchill Downs in a report on Monday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Churchill Downs Stock Up 0.7 %

NASDAQ CHDN opened at $139.10 on Thursday. The business has a 50 day moving average price of $122.19 and a two-hundred day moving average price of $122.04. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $147.30. The stock has a market cap of $10.22 billion, a PE ratio of 30.98, a P/E/G ratio of 3.81 and a beta of 0.99. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 5.88.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. During the same period in the prior year, the company posted $0.98 EPS. Churchill Downs’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Churchill Downs Incorporated will post 5.72 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 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.