1832 Asset Management L.P. Takes Position in Churchill Downs, Incorporated $CHDN

Key Points

• 1832 Asset Management L.P. has acquired 2,604 shares of Churchill Downs, valued at approximately $289,000, reinforcing the company's appeal among institutional investors.
• Churchill Downs' stock has received multiple price target upgrades from analysts, with an average target price now set at $136.50, reflecting a consensus rating of "Buy".
• The company reported earnings of $3.10 per share in its latest quarterly results, surpassing estimates and showing a revenue growth of 4.9% year-over-year.

1832 Asset Management L.P. bought a new position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,604 shares of the company's stock, valued at approximately $289,000.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Churchill Downs in the 1st quarter worth $29,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Churchill Downs by 159.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after acquiring an additional 253 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Churchill Downs by 39.6% in the 1st quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Churchill Downs by 154.9% in the 1st quarter. Private Trust Co. NA now owns 543 shares of the company's stock worth $60,000 after acquiring an additional 330 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Churchill Downs by 181.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 560 shares of the company's stock worth $62,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of research analyst reports. Mizuho boosted their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Truist Financial cut their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Barclays boosted their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. JMP Securities cut their price target on shares of Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th. Finally, Susquehanna boosted their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $136.50.

Churchill Downs Stock Performance

NASDAQ CHDN traded up $0.87 during trading on Monday, hitting $103.73. 506,509 shares of the company's stock traded hands, compared to its average volume of 504,856. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.94 and a beta of 0.86. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50 day moving average of $104.76 and a 200-day moving average of $103.67.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.03 by $0.07. The business had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The company's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 earnings per share. As a group, equities research analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.