Barlow Wealth Partners Inc. Has $1.79 Million Position in Churchill Downs, Incorporated $CHDN

Key Points

• Barlow Wealth Partners Inc. reduced its holdings in Churchill Downs by 86.5%, owning 17,046 shares worth $1.79 million after selling 109,075 shares in the second quarter.
• Several other institutional investors increased their stakes in Churchill Downs, with WCM Investment Management boosting its position by 44.4% and CWM LLC increasing it by an impressive 2,569.9% in the same quarter.
• The company reported a Q2 EPS of $3.10, exceeding estimates, while revenue rose by 4.9% year-over-year to $934.4 million.

Barlow Wealth Partners Inc. lowered its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 86.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,046 shares of the company's stock after selling 109,075 shares during the quarter. Barlow Wealth Partners Inc.'s holdings in Churchill Downs were worth $1,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. WCM Investment Management LLC raised its position in Churchill Downs by 44.4% in the 2nd quarter. WCM Investment Management LLC now owns 199,713 shares of the company's stock valued at $20,161,000 after buying an additional 61,426 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Churchill Downs in the 2nd quarter valued at approximately $593,000. CWM LLC raised its position in Churchill Downs by 2,569.9% in the 2nd quarter. CWM LLC now owns 12,869 shares of the company's stock valued at $1,300,000 after buying an additional 12,387 shares during the last quarter. IFP Advisors Inc raised its position in Churchill Downs by 26.0% in the 2nd quarter. IFP Advisors Inc now owns 1,542 shares of the company's stock valued at $156,000 after buying an additional 318 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Churchill Downs by 3,914.7% in the 2nd quarter. Blair William & Co. IL now owns 174,438 shares of the company's stock valued at $17,618,000 after buying an additional 170,093 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $86.85 on Thursday. The company has a current ratio of 0.60, a quick 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 stock has a 50 day moving average of $98.43 and a 200-day moving average of $99.86. The company has a market capitalization of $6.09 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.65 and a beta of 0.83.

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

Wall Street Analyst Weigh In

CHDN has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Mizuho lifted their target price on Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Susquehanna raised their price target on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. started coverage on Churchill Downs in a research note on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price target for the company. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Churchill Downs has an average rating of "Moderate Buy" and a consensus target price of $136.50.

Churchill Downs 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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