Treasurer of the State of North Carolina Boosts Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Treasurer of the State of North Carolina grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,382 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Churchill Downs were worth $4,369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank increased its stake in shares of Churchill Downs by 7.8% during the 3rd quarter. Amalgamated Bank now owns 52,333 shares of the company’s stock worth $6,073,000 after purchasing an additional 3,790 shares during the last quarter. Swiss National Bank grew its stake in Churchill Downs by 1.0% in the 3rd quarter. Swiss National Bank now owns 148,100 shares of the company’s stock valued at $17,186,000 after buying an additional 1,400 shares in the last quarter. Argent Trust Co lifted its position in shares of Churchill Downs by 5.1% during the third quarter. Argent Trust Co now owns 3,138 shares of the company’s stock worth $364,000 after acquiring an additional 152 shares in the last quarter. Pathstone Family Office LLC boosted its holdings in shares of Churchill Downs by 35.6% in the third quarter. Pathstone Family Office LLC now owns 1,824 shares of the company’s stock worth $212,000 after acquiring an additional 479 shares during the period. Finally, Hunter Associates Investment Management LLC grew its position in shares of Churchill Downs by 17.9% in the third quarter. Hunter Associates Investment Management LLC now owns 9,807 shares of the company’s stock valued at $1,143,000 after purchasing an additional 1,488 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CHDN. Mizuho lifted their target price on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Truist Financial increased their price target on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus upped their target price on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $156.00 target price on shares of Churchill Downs in a research note on Monday, May 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Check Out Our Latest Report on CHDN

Churchill Downs Price Performance

CHDN stock opened at $133.02 on Tuesday. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $9.78 billion, a P/E ratio of 29.63, a P/E/G ratio of 3.56 and a beta of 0.99. The firm’s fifty day moving average is $128.56 and its 200 day moving average is $124.50. Churchill Downs Incorporated has a 52 week low of $106.45 and a 52 week high of $141.89.

Churchill Downs (NASDAQ:CHDNGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $590.90 million for the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts predict that Churchill Downs Incorporated will post 5.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul C. Varga acquired 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average price of $130.22 per share, with a total value of $494,836.00. Following the completion of the purchase, the director now owns 28,902 shares in the company, valued at approximately $3,763,618.44. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.13% of the company’s stock.

Churchill Downs Company 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.

See Also

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

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