Zurcher Kantonalbank Zurich Cantonalbank Has $1.81 Million Position in Churchill Downs, Incorporated (NASDAQ:CHDN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,298 shares of the company’s stock after selling 833 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Churchill Downs were worth $1,810,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CHDN. FMR LLC boosted its stake in shares of Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after buying an additional 214,694 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of Churchill Downs by 4.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company’s stock valued at $179,557,000 after acquiring an additional 59,657 shares during the period. Geode Capital Management LLC grew its holdings in shares of Churchill Downs by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company’s stock worth $174,917,000 after purchasing an additional 10,018 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Churchill Downs by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,060,846 shares of the company’s stock worth $141,669,000 after purchasing an additional 58,507 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Churchill Downs by 3.0% in the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock worth $114,496,000 after purchasing an additional 30,444 shares during the period. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHDN. JMP Securities cut their price objective on shares of Churchill Downs from $144.00 to $138.00 and set a “market outperform” rating for the company in a research report on Tuesday, May 27th. Truist Financial dropped their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Macquarie increased their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Jefferies Financial Group decreased their price objective 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. Finally, Mizuho upped their target price on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. One 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 a consensus target price of $138.18.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $106.39 on Friday. The firm’s fifty day moving average price is $102.22 and its two-hundred day moving average price is $106.85. The stock has a market cap of $7.46 billion, a PE ratio of 18.28, a PEG ratio of 1.99 and a beta of 0.95. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21.

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

Insider Transactions at Churchill Downs

In other Churchill Downs news, Director R Alex Rankin bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $92.65 per share, for a total transaction of $185,300.00. Following the transaction, the director directly owned 99,012 shares in the company, valued at approximately $9,173,461.80. This represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas C. Grissom bought 10,000 shares of Churchill Downs stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $92.77 per share, for a total transaction of $927,700.00. Following the completion of the acquisition, the director directly owned 38,869 shares in the company, valued at approximately $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. Company insiders own 5.34% of the company’s stock.

About Churchill Downs

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.