Argent Capital Management LLC Has $2.15 Million Stock Position in Churchill Downs, Incorporated $CHDN

Key Points

• Argent Capital Management LLC significantly increased its ownership in Churchill Downs, raising its stake by 169.4% to a total of 21,299 shares valued at $2.15 million.
• Churchill Downs reported better-than-expected earnings for the last quarter, with an EPS of $3.10 surpassing analysts' estimates of $3.03 and a revenue of $934.4 million.
• A majority of analysts have a consensus rating of "Buy" for Churchill Downs, with target prices reaching as high as $145 to $136.50 from various institutions.

Argent Capital Management LLC raised its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 169.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,299 shares of the company's stock after purchasing an additional 13,393 shares during the quarter. Argent Capital Management LLC's holdings in Churchill Downs were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Churchill Downs by 11.3% in the 4th quarter. Cetera Investment Advisers now owns 3,868 shares of the company's stock worth $516,000 after acquiring an additional 392 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Churchill Downs by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 3,439 shares of the company's stock worth $459,000 after acquiring an additional 238 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Churchill Downs by 9.1% in the 4th quarter. Royal Bank of Canada now owns 103,402 shares of the company's stock worth $13,809,000 after acquiring an additional 8,606 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Churchill Downs by 2.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 210,639 shares of the company's stock worth $28,129,000 after acquiring an additional 4,036 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Churchill Downs by 15.4% in the 4th quarter. Centaurus Financial Inc. now owns 3,868 shares of the company's stock worth $517,000 after acquiring an additional 515 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

CHDN opened at $95.83 on Tuesday. 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 company has a fifty day simple moving average of $103.10 and a 200 day simple moving average of $101.76. The stock has a market cap of $6.72 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.78 and a beta of 0.86.

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 analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. During the same quarter in the prior year, the company earned $2.89 EPS. The firm's quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna boosted their target price on Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 target price on the stock. Truist Financial reduced their target price on 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 target price on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Stifel Nicolaus upped their price objective on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $136.50.

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.

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