Gabelli Funds LLC Boosts Stock Position in Churchill Downs, Incorporated $CHDN

Gabelli Funds LLC grew its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 11.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,800 shares of the company’s stock after purchasing an additional 15,700 shares during the period. Gabelli Funds LLC owned approximately 0.21% of Churchill Downs worth $13,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHDN. Quadrant Capital Group LLC raised its position in Churchill Downs by 4.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after buying an additional 118 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Churchill Downs by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 27,600 shares of the company’s stock valued at $2,479,000 after acquiring an additional 125 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in shares of Churchill Downs by 4.8% in the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock valued at $346,000 after acquiring an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Churchill Downs by 7.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock worth $285,000 after acquiring an additional 169 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Churchill Downs by 5.5% in the third quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock worth $327,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

CHDN opened at $86.50 on Monday. The firm has a fifty day moving average price of $86.77 and a 200 day moving average price of $91.12. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.35. The stock has a market cap of $6.03 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.56 and a beta of 0.67. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54.

Analysts Set New Price Targets

Several research analysts recently issued reports on CHDN shares. Mizuho boosted their target price on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Truist Financial set a $145.00 price target on Churchill Downs in a research report on Friday, June 12th. Citizens Jmp lifted their price objective on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th. Weiss Ratings cut Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Company 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.