IFP Advisors Inc Grows Stock Position in Churchill Downs, Incorporated $CHDN

IFP Advisors Inc lifted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 26.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,542 shares of the company’s stock after buying an additional 318 shares during the period. IFP Advisors Inc’s holdings in Churchill Downs were worth $156,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after purchasing an additional 232 shares during the period. Elequin Capital LP purchased a new position in Churchill Downs during the 1st quarter valued at about $29,000. Signaturefd LLC increased its holdings in Churchill Downs by 161.1% during the 2nd quarter. Signaturefd LLC now owns 329 shares of the company’s stock valued at $33,000 after purchasing an additional 203 shares during the period. State of Wyoming purchased a new position in Churchill Downs during the 1st quarter valued at about $60,000. Finally, Private Trust Co. NA increased its holdings in Churchill Downs by 154.9% during the 1st quarter. Private Trust Co. NA now owns 543 shares of the company’s stock valued at $60,000 after purchasing an additional 330 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN opened at $90.53 on Friday. The firm has a market cap of $6.35 billion, a PE ratio of 15.55, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a fifty day simple moving average of $97.91 and a two-hundred day simple moving average of $99.47. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21.

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

Analyst Ratings Changes

CHDN has been the topic of a number of research analyst reports. Macquarie boosted their price target on Churchill Downs from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Mizuho boosted their price target on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Susquehanna boosted their price target on Churchill Downs from $121.00 to $126.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. Barclays boosted their price target on Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $137.70.

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.