Russell Investments Group Ltd. Buys 458 Shares of Churchill Downs, Incorporated $CHDN

Russell Investments Group Ltd. grew its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,308 shares of the company’s stock after buying an additional 458 shares during the quarter. Russell Investments Group Ltd.’s holdings in Churchill Downs were worth $3,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meridian Wealth Management LLC increased its position in Churchill Downs by 17.8% during the first quarter. Meridian Wealth Management LLC now owns 3,477 shares of the company’s stock valued at $386,000 after acquiring an additional 526 shares during the last quarter. Nuveen LLC bought a new stake in shares of Churchill Downs during the 1st quarter valued at about $19,267,000. Invesco Ltd. increased its position in shares of Churchill Downs by 47.8% during the 1st quarter. Invesco Ltd. now owns 226,157 shares of the company’s stock valued at $25,119,000 after purchasing an additional 73,100 shares during the last quarter. Cynosure Group LLC lifted its stake in shares of Churchill Downs by 37.6% in the 1st quarter. Cynosure Group LLC now owns 3,125 shares of the company’s stock worth $347,000 after purchasing an additional 854 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of Churchill Downs by 33.1% in the 1st quarter. Townsquare Capital LLC now owns 13,356 shares of the company’s stock worth $1,483,000 after purchasing an additional 3,319 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 1.5%

Shares of CHDN stock opened at $104.04 on Friday. 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 one year low of $85.58 and a one year high of $150.21. The company’s fifty day moving average price is $104.12 and its 200-day moving average price is $104.56. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.94 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) 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 company earned $2.89 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CHDN shares. Mizuho boosted their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Susquehanna lifted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Macquarie upped their price objective on Churchill Downs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Truist Financial decreased their target price on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. initiated coverage on Churchill Downs in a report on Monday, June 23rd. They set an “overweight” rating and a $116.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $136.50.

Churchill Downs 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.