Baird Financial Group Inc. Has $66.96 Million Position in Churchill Downs, Incorporated $CHDN

Key Points

• Baird Financial Group Inc. increased its stake in Churchill Downs, Incorporated by 5.1%, acquiring an additional 28,989 shares, bringing their total ownership to 602,849 shares valued at approximately $66.96 million.
• Churchill Downs reported a quarterly earnings per share (EPS) of $3.10, surpassing analyst expectations of $3.03, with revenues rising 4.9% year-over-year to reach $934.4 million.
• Analysts hold a positive outlook on the company, with a majority rating the stock as a Buy and an average price target of $136.50.

Baird Financial Group Inc. lifted its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 602,849 shares of the company's stock after purchasing an additional 28,989 shares during the period. Baird Financial Group Inc. owned about 0.83% of Churchill Downs worth $66,958,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Churchill Downs by 28,864.9% in the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after acquiring an additional 510,331 shares during the period. Point72 Asset Management L.P. raised its position in shares of Churchill Downs by 97.9% in the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock valued at $57,578,000 after buying an additional 213,311 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Churchill Downs by 57.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company's stock valued at $71,185,000 after buying an additional 193,677 shares during the last quarter. Nuveen LLC acquired a new stake in Churchill Downs during the first quarter worth about $19,267,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Churchill Downs by 444.9% during the first quarter. Assenagon Asset Management S.A. now owns 185,925 shares of the company's stock valued at $20,651,000 after acquiring an additional 151,805 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Macquarie lifted their price target on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Susquehanna upped their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Stifel Nicolaus upped their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a report on Friday, July 11th. Truist Financial cut their price objective 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. Finally, JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research report on Monday, June 23rd. They set an "overweight" rating and a $116.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $136.50.

Churchill Downs Trading Down 0.5%

NASDAQ CHDN traded down $0.48 on Wednesday, hitting $101.59. 472,256 shares of the company were exchanged, compared to its average volume of 713,161. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company's 50 day moving average price is $104.80 and its 200-day moving average price is $103.66. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $7.12 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (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 for the quarter, compared to analyst estimates of $924.36 million. During the same quarter in the previous year, the business earned $2.89 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. Analysts predict 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.