Raymond James Financial Inc. Acquires 7,606 Shares of Churchill Downs, Incorporated $CHDN

Raymond James Financial Inc. grew its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,526 shares of the company’s stock after acquiring an additional 7,606 shares during the quarter. Raymond James Financial Inc. owned 0.18% of Churchill Downs worth $14,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CHDN. Dimensional Fund Advisors LP boosted its position in shares of Churchill Downs by 15.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 509,743 shares of the company’s stock worth $68,075,000 after buying an additional 66,731 shares during the period. Northern Trust Corp boosted its position in shares of Churchill Downs by 20.5% during the fourth quarter. Northern Trust Corp now owns 589,710 shares of the company’s stock worth $78,750,000 after buying an additional 100,337 shares during the period. Utah Retirement Systems boosted its position in shares of Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company’s stock worth $507,000 after buying an additional 100 shares during the period. Comerica Bank boosted its position in shares of Churchill Downs by 16.1% during the fourth quarter. Comerica Bank now owns 152,346 shares of the company’s stock worth $20,344,000 after buying an additional 21,083 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Churchill Downs during the fourth quarter worth about $420,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $102.86 on Friday. The stock has a 50 day moving average price of $104.57 and a 200 day moving average price of $104.17. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. 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 stock has a market capitalization of $7.21 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CHDN shares. Truist Financial reduced their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. JMP Securities reduced their price objective on 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. Mizuho upped their target price on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Susquehanna increased their price target on Churchill Downs from $121.00 to $126.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Finally, Barclays increased their price target on Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Buy” and an average target price of $136.50.

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.