Universal Beteiligungs und Servicegesellschaft mbH Purchases New Holdings in Churchill Downs, Incorporated (NASDAQ:CHDN)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,894 shares of the company’s stock, valued at approximately $2,987,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GW&K Investment Management LLC boosted its stake in Churchill Downs by 7.3% in the first quarter. GW&K Investment Management LLC now owns 465,966 shares of the company’s stock valued at $51,755,000 after acquiring an additional 31,778 shares during the last quarter. Jennison Associates LLC boosted its stake in Churchill Downs by 3.0% in the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock valued at $114,496,000 after acquiring an additional 30,444 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Churchill Downs by 6.5% in the first quarter. Segall Bryant & Hamill LLC now owns 224,224 shares of the company’s stock valued at $24,905,000 after acquiring an additional 13,742 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Churchill Downs by 490.4% in the first quarter. Edgestream Partners L.P. now owns 64,790 shares of the company’s stock valued at $7,196,000 after acquiring an additional 53,817 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in Churchill Downs in the first quarter valued at approximately $2,675,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Down 0.6%

CHDN opened at $110.60 on Wednesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $7.76 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.02 and a beta of 0.95. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The stock has a fifty day moving average of $101.36 and a 200-day moving average of $107.27.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The firm had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. During the same quarter in the previous year, the firm posted $2.89 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Insider Buying and Selling

In related news, Director R Alex Rankin acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $92.65 per share, with a total value of $185,300.00. Following the purchase, the director directly owned 99,012 shares in the company, valued at approximately $9,173,461.80. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas C. Grissom acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $92.77 per share, with a total value of $927,700.00. Following the purchase, the director owned 38,869 shares in the company, valued at $3,605,877.13. The trade was a 34.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Macquarie raised their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday. Susquehanna boosted their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Jefferies Financial Group lowered their price target on shares of Churchill Downs from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a research note on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.18.

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; casino gaming; and Terre Haute Casino Resort.