Fieldview Capital Management LLC Invests $3.87 Million in Churchill Downs, Incorporated $CHDN

Fieldview Capital Management LLC acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,884 shares of the company’s stock, valued at approximately $3,869,000. Fieldview Capital Management LLC owned approximately 0.06% of Churchill Downs at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHDN. First Horizon Corp purchased a new stake in Churchill Downs in the third quarter valued at about $26,000. Quent Capital LLC purchased a new stake in shares of Churchill Downs during the third quarter worth about $27,000. Geneos Wealth Management Inc. increased its holdings in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after acquiring an additional 284 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of Churchill Downs by 306.9% in the 2nd quarter. MAI Capital Management now owns 293 shares of the company’s stock valued at $30,000 after purchasing an additional 221 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on CHDN shares. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research note on Wednesday, December 24th. Citizens Jmp upped their target price on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company reduced their target price on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $83.83 on Monday. The company has a 50 day moving average price of $99.74 and a 200-day moving average price of $101.35. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65. Churchill Downs, Incorporated has a 1-year low of $82.67 and a 1-year high of $118.46. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.60 and a quick ratio of 0.60.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. The business had revenue of $665.90 million for the quarter, compared to analyst estimates of $658.01 million. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Equities research analysts forecast that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.