Empowered Funds LLC purchased a new stake in Churchill Downs, Incorporated (NASDAQ:CHDN – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,026 shares of the company’s stock, valued at approximately $1,709,000.
Several other large investors have also modified their holdings of CHDN. Lazard Asset Management LLC grew its holdings in shares of Churchill Downs by 11.5% in the 1st quarter. Lazard Asset Management LLC now owns 20,206 shares of the company’s stock worth $1,815,000 after acquiring an additional 2,091 shares during the last quarter. Castleark Management LLC lifted its holdings in shares of Churchill Downs by 39.6% during the first quarter. Castleark Management LLC now owns 67,810 shares of the company’s stock valued at $6,091,000 after purchasing an additional 19,240 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Churchill Downs in the 1st quarter valued at $430,000. Gabelli Funds LLC increased its stake in Churchill Downs by 11.8% in the 1st quarter. Gabelli Funds LLC now owns 148,800 shares of the company’s stock worth $13,367,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Churchill Downs by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 224,856 shares of the company’s stock worth $20,199,000 after buying an additional 786 shares during the period. 82.59% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Susquehanna raised their target price on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Mizuho boosted their price target on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Churchill Downs in a research note on Friday, July 31st. Finally, Wells Fargo & Company lowered their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.88.
Churchill Downs Stock Up 1.1%
CHDN stock opened at $87.86 on Friday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.82 and a beta of 0.68. Churchill Downs, Incorporated has a 12-month low of $79.40 and a 12-month high of $118.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.06. The company has a 50 day moving average of $86.80 and a two-hundred day moving average of $89.69.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, hitting the consensus estimate of $3.45. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $977.38 million. During the same period in the prior year, the firm posted $3.10 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate 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.
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