Wells Fargo & Company MN Raises Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Wells Fargo & Company MN boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 57.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 156,226 shares of the company’s stock after purchasing an additional 56,813 shares during the period. Wells Fargo & Company MN owned approximately 0.21% of Churchill Downs worth $21,080,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHDN. Benjamin F. Edwards & Company Inc. purchased a new position in Churchill Downs during the 4th quarter worth $39,000. Vestor Capital LLC acquired a new stake in shares of Churchill Downs in the 4th quarter worth $45,000. GAMMA Investing LLC acquired a new stake in shares of Churchill Downs in the 4th quarter worth $66,000. Covestor Ltd lifted its stake in shares of Churchill Downs by 44.0% in the 3rd quarter. Covestor Ltd now owns 848 shares of the company’s stock worth $98,000 after acquiring an additional 259 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after acquiring an additional 189 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JMP Securities restated a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a research note on Monday, May 6th. Truist Financial raised their target price on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company upgraded shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $137.00 to $141.00 in a research note on Monday, April 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Check Out Our Latest Stock Analysis on Churchill Downs

Insider Buying and Selling at Churchill Downs

In other Churchill Downs news, Director Paul C. Varga bought 3,800 shares of the company’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now owns 28,902 shares of the company’s stock, valued at approximately $3,763,618.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.13% of the stock is currently owned by insiders.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $128.09 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 5.88. The firm has a 50-day moving average price of $128.02 and a two-hundred day moving average price of $124.30. Churchill Downs Incorporated has a twelve month low of $106.45 and a twelve month high of $142.90. The company has a market capitalization of $9.42 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 3.60 and a beta of 0.99.

Churchill Downs (NASDAQ:CHDNGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.35. Churchill Downs had a net margin of 13.72% and a return on equity of 44.99%. The firm had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that Churchill Downs Incorporated will post 5.9 earnings per share for the current fiscal year.

About Churchill Downs

(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.

See Also

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

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