Bayforest Capital Ltd Acquires Shares of 5,875 Churchill Downs, Incorporated $CHDN

Key Points

• Bayforest Capital Ltd has acquired 5,875 shares of Churchill Downs, representing a new investment valued at approximately $593,000.
• Churchill Downs has received several analyst upgrades with price targets ranging from $126.00 to $145.00 following recent financial reports showing growth in revenue and earnings.
• Institutional investors now own 82.59% of Churchill Downs' stock, indicating significant confidence among major stakeholders in the company's prospects.

Bayforest Capital Ltd bought a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,875 shares of the company's stock, valued at approximately $593,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. JLB & Associates Inc. boosted its position in Churchill Downs by 3.8% during the second quarter. JLB & Associates Inc. now owns 2,867 shares of the company's stock worth $290,000 after purchasing an additional 105 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Churchill Downs by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after acquiring an additional 130 shares in the last quarter. Aristides Capital LLC raised its position in Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock worth $273,000 after acquiring an additional 132 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock valued at $4,925,000 after purchasing an additional 138 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Churchill Downs by 2.8% in the first quarter. Bessemer Group Inc. now owns 6,348 shares of the company's stock valued at $705,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Analysts Set New Price Targets

CHDN has been the topic of several research reports. Truist Financial decreased their target price on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Susquehanna upped their target price on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Stifel Nicolaus raised their price target 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. Finally, Barclays boosted their price target on shares of Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.50.

Churchill Downs Stock Up 0.5%

NASDAQ CHDN opened at $88.42 on Wednesday. The business's fifty day simple moving average is $98.74 and its 200-day simple moving average is $99.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm has a market cap of $6.20 billion, a PE ratio of 15.19, a P/E/G ratio of 1.64 and a beta of 0.83. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.07. The firm had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. Churchill Downs's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $2.89 earnings per share. As a group, equities analysts anticipate 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.

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