Scientech Research LLC Acquires Shares of 1,672 Churchill Downs Incorporated (NASDAQ:CHDN)

Scientech Research LLC bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,672 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after buying an additional 99 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after acquiring an additional 105 shares during the last quarter. UMB Bank n.a. raised its position in shares of Churchill Downs by 59.8% during the 1st quarter. UMB Bank n.a. now owns 286 shares of the company’s stock valued at $35,000 after acquiring an additional 107 shares in the last quarter. Arizona State Retirement System lifted its stake in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after purchasing an additional 114 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after purchasing an additional 116 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 0.9 %

NASDAQ:CHDN opened at $135.21 on Tuesday. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.01 and a beta of 0.97. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $146.64. The business has a fifty day moving average of $137.64 and a 200-day moving average of $133.74.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.24 EPS. Equities analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $166.00 price target (up from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Jefferies Financial Group lifted their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Stifel Nicolaus boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.90.

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.