Blair William & Co. IL Increases Stock Position in Churchill Downs, Incorporated $CHDN

Key Points

• Blair William & Co. IL significantly increased its stake in Churchill Downs by 3,914.7%, owning 174,438 shares valued at approximately $17.6 million after acquiring 170,093 shares in the 2nd quarter.
• Churchill Downs reported earnings of $3.10 per share for the last quarter, surpassing analyst expectations, and achieving a 4.9% increase in revenue compared to the previous year.
• The current market sentiment shows the stock has a consensus rating of "Moderate Buy" with an average target price of $136.50 from analysts.

Blair William & Co. IL raised its stake in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 3,914.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,438 shares of the company's stock after acquiring an additional 170,093 shares during the period. Blair William & Co. IL owned 0.24% of Churchill Downs worth $17,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC grew its stake in Churchill Downs by 3.0% during the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company's stock worth $114,496,000 after buying an additional 30,444 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Churchill Downs by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company's stock valued at $68,359,000 after acquiring an additional 10,108 shares during the period. Baird Financial Group Inc. grew its position in shares of Churchill Downs by 5.1% during the first quarter. Baird Financial Group Inc. now owns 602,849 shares of the company's stock worth $66,958,000 after acquiring an additional 28,989 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Churchill Downs by 107.4% in the 1st quarter. Millennium Management LLC now owns 548,476 shares of the company's stock valued at $60,919,000 after acquiring an additional 284,045 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Churchill Downs by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 483,252 shares of the company's stock valued at $53,675,000 after purchasing an additional 121,204 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $90.02 on Friday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.70 and a beta of 0.83. The business's 50 day moving average is $99.37 and its two-hundred day moving average is $100.37. Churchill Downs, Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. 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 (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same period in the previous year, the business earned $2.89 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Analyst Ratings Changes

CHDN has been the topic of several research reports. 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 report on Friday, July 11th. Macquarie boosted their price target on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Churchill Downs in a research note on Wednesday. Truist Financial lowered their target price on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. began 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. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.50.

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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