Macquarie Group Ltd. purchased a new position in shares of Churchill Downs, Inc. (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 400 shares of the company’s stock, valued at approximately $119,000.
Other large investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Churchill Downs by 74.7% in the 2nd quarter. Bank of America Corp DE now owns 45,384 shares of the company’s stock valued at $13,457,000 after purchasing an additional 19,409 shares during the period. Fort L.P. bought a new stake in Churchill Downs in the 2nd quarter valued at $120,000. AMP Capital Investors Ltd bought a new stake in Churchill Downs in the 2nd quarter valued at $552,000. Renaissance Technologies LLC bought a new stake in Churchill Downs in the 2nd quarter valued at $28,872,000. Finally, BlueMountain Capital Management LLC bought a new stake in Churchill Downs in the 2nd quarter valued at $786,000. 70.72% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on CHDN shares. Zacks Investment Research downgraded Churchill Downs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Jefferies Financial Group set a $317.00 price target on Churchill Downs and gave the company a “hold” rating in a research note on Monday, August 6th. BidaskClub upgraded Churchill Downs from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 15th. Finally, ValuEngine downgraded Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $316.67.
NASDAQ:CHDN opened at $280.06 on Friday. The firm has a market cap of $3.77 billion, a PE ratio of 47.63, a P/E/G ratio of 1.30 and a beta of 0.95. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.95. Churchill Downs, Inc. has a fifty-two week low of $204.25 and a fifty-two week high of $314.60.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, August 1st. The company reported $7.71 earnings per share for the quarter, beating analysts’ consensus estimates of $7.43 by $0.28. The firm had revenue of $379.40 million during the quarter, compared to the consensus estimate of $371.30 million. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.81 EPS. On average, research analysts expect that Churchill Downs, Inc. will post 10.72 earnings per share for the current year.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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