Castleark Management LLC Has $6.09 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Castleark Management increased its Churchill Downs stake by 39.6% in the first quarter, holding 67,810 shares worth approximately $6.09 million. Institutional investors and hedge funds collectively own 82.59% of the company.
• Churchill Downs shares opened at $86.50, near the lower end of their 52-week range of $80.24 to $118.35. The company has a $6.03 billion market capitalization and a high debt-to-equity ratio of 4.44.
• Analyst sentiment remains broadly positive, with nine Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $138.50; however, Wells Fargo recently lowered its target while Weiss Ratings downgraded the stock to Sell.

Castleark Management LLC lifted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 39.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 67,810 shares of the company's stock after acquiring an additional 19,240 shares during the period. Castleark Management LLC owned approximately 0.10% of Churchill Downs worth $6,091,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock valued at $28,000 after acquiring an additional 232 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs during the third quarter worth about $25,000. Parkside Financial Bank & Trust lifted its stake in Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company's stock worth $29,000 after purchasing an additional 191 shares during the period. Root Financial Partners LLC boosted its holdings in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company's stock valued at $30,000 after purchasing an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Churchill Downs during the fourth quarter valued at approximately $38,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

CHDN opened at $86.50 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock has a market capitalization of $6.03 billion, a PE ratio of 16.02, a PEG ratio of 0.56 and a beta of 0.67. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.35. The firm has a 50-day moving average price of $86.77 and a two-hundred day moving average price of $91.12.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CHDN shares. Mizuho upped their price objective on Churchill Downs from $146.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of Churchill Downs in a research note on Friday, April 24th. Jefferies Financial Group reiterated a "buy" rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Wells Fargo & Company dropped their price objective on Churchill Downs from $132.00 to $120.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut Churchill Downs from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.50.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.

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