Bank of Nova Scotia Purchases Shares of 21,800 Churchill Downs, Incorporated (NASDAQ:CHDN)

Bank of Nova Scotia bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,800 shares of the company's stock, valued at approximately $2,421,000.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Churchill Downs by 107.8% during the 4th quarter. LPL Financial LLC now owns 40,356 shares of the company's stock worth $5,389,000 after buying an additional 20,938 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Churchill Downs by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 212,663 shares of the company's stock valued at $28,399,000 after acquiring an additional 29,069 shares in the last quarter. Wells Fargo & Company MN raised its position in Churchill Downs by 2.7% during the fourth quarter. Wells Fargo & Company MN now owns 114,935 shares of the company's stock worth $15,348,000 after acquiring an additional 3,040 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Churchill Downs by 5.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 295,311 shares of the company's stock valued at $39,436,000 after purchasing an additional 15,821 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Churchill Downs by 10.7% in the fourth quarter. Russell Investments Group Ltd. now owns 32,850 shares of the company's stock valued at $4,387,000 after purchasing an additional 3,173 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 1.2%

NASDAQ CHDN traded down $1.27 during trading hours on Friday, hitting $100.90. 617,476 shares of the company's stock were exchanged, compared to its average volume of 689,973. The business's 50 day moving average is $103.03 and its 200-day moving average is $106.05. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. 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 $7.08 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted 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 company had revenue of $934.40 million during the quarter, compared to the consensus estimate of $924.36 million. During the same quarter in the prior year, the company posted $2.89 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CHDN shares. Stifel Nicolaus raised their price objective on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Mizuho increased their target price on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Barclays boosted their price target on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Jefferies Financial Group reduced their price objective on Churchill Downs from $160.00 to $127.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, JMP Securities dropped their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.18.

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.