Churchill Downs, Incorporated $CHDN Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. increased its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,141 shares of the company’s stock after buying an additional 12,744 shares during the quarter. Bessemer Group Inc. owned about 0.07% of Churchill Downs worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CHDN. Fifth Third Bancorp raised its holdings in shares of Churchill Downs by 6,547.6% in the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock worth $5,990,000 after purchasing an additional 51,857 shares during the period. UBS Group AG grew its holdings in shares of Churchill Downs by 26.9% during the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after purchasing an additional 74,421 shares during the period. M&T Bank Corp purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $4,266,000. JPMorgan Chase & Co. increased its position in Churchill Downs by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 219,834 shares of the company’s stock worth $21,326,000 after purchasing an additional 16,646 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in Churchill Downs by 126.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock worth $5,326,000 after purchasing an additional 26,105 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CHDN. Truist Financial set a $145.00 price target on shares of Churchill Downs in a research report on Friday, June 12th. Weiss Ratings lowered shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $83.71 on Tuesday. The business’s 50-day simple moving average is $86.95 and its 200 day simple moving average is $91.95. The company has a market cap of $5.83 billion, a P/E ratio of 15.50, a PEG ratio of 0.57 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. During the same quarter in the prior year, the business earned $1.07 EPS. Churchill Downs’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

About Churchill Downs

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.