17,018 Shares in Churchill Downs, Incorporated $CHDN Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC acquired 17,018 shares of Churchill Downs valued at approximately $1.51 million during the first quarter. Institutional investors collectively own 82.59% of the company.
• Analyst sentiment remains broadly positive, with nine Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $138.50.
• Churchill Downs shares opened at $88.17, below the 200-day moving average of $90.94 and well below their 52-week high of $118.35; the company has a $6.15 billion market capitalization and high debt-to-equity ratio of 4.44.

Hsbc Holdings PLC bought a new position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,018 shares of the company's stock, valued at approximately $1,508,000.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its holdings in shares of Churchill Downs by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 20,415 shares of the company's stock worth $1,834,000 after acquiring an additional 554 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Churchill Downs by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,578 shares of the company's stock valued at $1,220,000 after acquiring an additional 300 shares during the period. R Squared Ltd bought a new position in Churchill Downs in the first quarter valued at about $394,000. AdvisorShares Investments LLC boosted its position in Churchill Downs by 21.5% in the first quarter. AdvisorShares Investments LLC now owns 5,080 shares of the company's stock worth $456,000 after purchasing an additional 900 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in Churchill Downs by 2.2% in the first quarter. Hunter Associates Investment Management LLC now owns 18,831 shares of the company's stock worth $1,689,000 after purchasing an additional 399 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $132.00 to $120.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Citizens Jmp raised their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a "market outperform" rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Jefferies Financial Group restated a "buy" rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.50.

Churchill Downs Price Performance

NASDAQ CHDN opened at $88.17 on Tuesday. The business's fifty day moving average is $86.78 and its 200 day moving average is $90.94. Churchill Downs, Incorporated has a fifty-two week low of $80.24 and a fifty-two week high of $118.35. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $6.15 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.