LPL Financial LLC Acquires 20,802 Shares of Churchill Downs, Incorporated (NASDAQ:CHDN)

LPL Financial LLC raised its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 51.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,158 shares of the company’s stock after purchasing an additional 20,802 shares during the period. LPL Financial LLC owned 0.08% of Churchill Downs worth $6,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHDN. ArrowMark Colorado Holdings LLC grew its holdings 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 worth $179,557,000 after acquiring an additional 59,657 shares during the period. 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 acquiring an additional 58,507 shares during the period. Jennison Associates LLC grew its holdings in shares of Churchill Downs by 3.0% during the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock worth $114,496,000 after acquiring an additional 30,444 shares during the period. Northern Trust Corp grew its holdings in shares of Churchill Downs by 20.5% during the 4th quarter. Northern Trust Corp now owns 589,710 shares of the company’s stock worth $78,750,000 after acquiring an additional 100,337 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Churchill Downs by 12.7% during the 4th quarter. Baird Financial Group Inc. now owns 573,860 shares of the company’s stock worth $76,633,000 after acquiring an additional 64,497 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CHDN. JPMorgan Chase & Co. began coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price target on the stock. Susquehanna upped their price target on Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Truist Financial cut their price target on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Jefferies Financial Group cut their price target on 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, Barclays upped their price target on Churchill Downs from $127.00 to $131.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.18.

Churchill Downs Price Performance

NASDAQ CHDN opened at $100.45 on Tuesday. The business’s fifty day moving average price is $103.19 and its 200-day moving average price is $105.75. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results 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. The firm had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 EPS. On average, equities analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

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.