Ancora Advisors LLC Takes $7.58 Million Position in Churchill Downs, Incorporated $CHDN

Key Points

• Ancora Advisors acquired 84,578 Churchill Downs shares worth approximately $7.58 million, representing a 0.12% stake. Institutional investors collectively own 82.59% of the company.
• Churchill Downs reported quarterly EPS of $3.45, matching analyst estimates, while revenue rose 4.9% year over year to $980 million. Analysts expect full-year EPS of $7.14.
• CHDN shares opened at $88.67, down 2.2%, while analysts maintained a generally positive outlook: nine rate the stock a Buy and the consensus price target is $136.88.

Ancora Advisors LLC acquired a new position in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 84,578 shares of the company's stock, valued at approximately $7,582,000. Ancora Advisors LLC owned 0.12% of Churchill Downs at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CHDN. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Churchill Downs by 1,364.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after purchasing an additional 232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs during the second quarter worth $29,000. Parkside Financial Bank & Trust boosted its holdings in 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 buying an additional 191 shares in the last quarter. Finally, Root Financial Partners LLC grew its position in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company's stock valued at $30,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Churchill Downs Trading Down 2.2%

Shares of CHDN stock opened at $88.67 on Wednesday. The stock's fifty day moving average is $87.25 and its two-hundred day moving average is $88.76. 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 $6.18 billion, a P/E ratio of 15.21, a PEG ratio of 0.86 and a beta of 0.68. Churchill Downs, Incorporated has a fifty-two week low of $79.40 and a fifty-two week high of $118.35.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.45. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The company'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 firm earned $3.10 earnings per share. Research analysts expect that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CHDN shares. Truist Financial set a $145.00 price target on Churchill Downs in a research report on Friday, June 12th. Citizens Jmp cut their price objective on Churchill Downs from $149.00 to $137.00 and set a "market outperform" rating for the company in a research report on Friday, July 31st. Susquehanna upped their target price on Churchill Downs from $121.00 to $124.00 and gave the stock a "positive" rating in a research note on Friday, July 31st. Citigroup reiterated an "outperform" rating on shares of Churchill Downs in a research report on Friday, July 31st. Finally, Wells Fargo & Company cut their price target on shares of Churchill Downs from $120.00 to $117.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has given 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 $136.88.

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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