Verition Fund Management LLC lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN – Free Report) by 1,234.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,734 shares of the company’s stock after buying an additional 135,739 shares during the quarter. Verition Fund Management LLC owned approximately 0.21% of Churchill Downs worth $16,695,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CHDN. Measured Wealth Private Client Group LLC purchased a new stake in shares of Churchill Downs during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its position 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 worth $28,000 after purchasing an additional 232 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Churchill Downs during the fourth quarter worth approximately $38,000. Finally, TFC Financial Management Inc. purchased a new stake in Churchill Downs in the 4th quarter valued at $47,000. 82.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CHDN has been the subject of several analyst reports. Citizens Jmp upped their target price on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, April 24th. Truist Financial set a $145.00 target price on Churchill Downs in a report on Friday. Mizuho upped their target price on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.00.
Churchill Downs Stock Performance
NASDAQ CHDN opened at $92.30 on Tuesday. The stock has a market cap of $6.43 billion, a PE ratio of 17.09, a P/E/G ratio of 0.57 and a beta of 0.68. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The stock has a fifty day simple moving average of $89.72 and a 200-day simple moving average of $96.66.
Churchill Downs (NASDAQ:CHDN – Get Free Report) 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. The business had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. Equities analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share 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.
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