Aptus Capital Advisors LLC Raises Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Aptus Capital Advisors LLC increased its stake in Churchill Downs by 12.9%, acquiring an additional 5,652 shares, bringing its total holdings to 49,353 shares worth approximately $5.48 million.
• Churchill Downs has received positive analyst ratings, with multiple firms setting target prices, including Susquehanna's increase to $126 and Mizuho's to $136, indicating a consensus rating of "Buy".
• In its latest earnings report, Churchill Downs reported earnings of $3.10 per share, beating estimates, and a revenue growth of 4.9% year-over-year, totaling $934.4 million for the quarter.

Aptus Capital Advisors LLC boosted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,353 shares of the company's stock after buying an additional 5,652 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.07% of Churchill Downs worth $5,482,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC raised its position in shares of Churchill Downs by 4.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company's stock worth $179,557,000 after acquiring an additional 59,657 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Churchill Downs by 5.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,060,846 shares of the company's stock worth $141,669,000 after acquiring an additional 58,507 shares during the last quarter. Jennison Associates LLC raised its position in shares of Churchill Downs by 3.0% during the first quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock worth $114,496,000 after acquiring an additional 30,444 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Churchill Downs by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock worth $68,359,000 after acquiring an additional 10,108 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Churchill Downs by 20.5% during the fourth quarter. Northern Trust Corp now owns 589,710 shares of the company's stock worth $78,750,000 after acquiring an additional 100,337 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CHDN shares. JMP Securities reduced their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 27th. Truist Financial reduced their price objective on Churchill Downs from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Stifel Nicolaus raised their price objective on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective for the company. Finally, Mizuho raised their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Ten research analysts have rated the stock with a Buy rating, According to MarketBeat, Churchill Downs currently has a consensus rating of "Buy" and an average price target of $136.50.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded down $0.12 during midday trading on Monday, reaching $103.92. 84,109 shares of the company traded hands, compared to its average volume of 714,943. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $150.21. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The firm's fifty day moving average price is $104.12 and its two-hundred day moving average price is $104.43.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The business had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. During the same period in the previous year, the business earned $2.89 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

About Churchill Downs

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.