Ieq Capital LLC acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,134 shares of the company's stock, valued at approximately $1,177,000.
A number of other hedge funds also recently modified their holdings of CHDN. Fifth Third Bancorp increased its stake in Churchill Downs by 6,547.6% in the 4th quarter. Fifth Third Bancorp now owns 52,649 shares of the company's stock valued at $5,990,000 after buying 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 valued at $39,935,000 after acquiring an additional 74,421 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Churchill Downs by 178.9% in the first quarter. First Trust Advisors LP now owns 76,395 shares of the company's stock worth $6,863,000 after acquiring an additional 49,002 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Churchill Downs during the second quarter worth $2,265,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Churchill Downs during the first quarter worth $2,598,000. Hedge funds and other institutional investors own 82.59% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Churchill Downs in a research report on Friday, July 31st. Mizuho increased their price objective on Churchill Downs from $155.00 to $157.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Citizens Jmp reduced their target price on shares of Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a research note on Friday, July 31st. Jefferies Financial Group restated a "buy" rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Truist Financial set a $145.00 target price on shares of Churchill Downs in a research report on Friday, June 12th. Nine equities 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, Churchill Downs presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.88.
Check Out Our Latest Stock Report on CHDN
Churchill Downs Trading Down 1.2%
Churchill Downs stock opened at $87.57 on Thursday. Churchill Downs, Incorporated has a 52 week low of $79.40 and a 52 week high of $118.35. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $6.10 billion, a PE ratio of 15.02, a PEG ratio of 0.84 and a beta of 0.68. The business's 50-day simple moving average is $87.25 and its 200-day simple moving average is $88.72.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a return on equity of 42.16% and a net margin of 13.82%.The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.10 EPS. Equities research analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current year.
Churchill Downs Profile
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Free Report)
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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