Charles Schwab Investment Management Inc. Acquires 10,108 Shares of Churchill Downs, Incorporated $CHDN

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Churchill Downs, Incorporated by 1.7%, owning a total of 615,463 shares valued at about $68.36 million.
• Churchill Downs reported earnings of $3.10 per share for the quarter, surpassing analysts' expectations of $3.03, with a revenue of $934.4 million which was higher than the forecasted $924.36 million.
• The stock has received positive ratings from analysts, with ten assigning a buy rating and an average price target of $136.50.

Charles Schwab Investment Management Inc. increased its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 615,463 shares of the company's stock after acquiring an additional 10,108 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.85% of Churchill Downs worth $68,359,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Utah Retirement Systems increased its position in Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after acquiring an additional 100 shares during the period. Central Pacific Bank Trust Division increased its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares during the period. OneDigital Investment Advisors LLC increased its position in Churchill Downs by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company's stock worth $360,000 after acquiring an additional 130 shares during the period. Foundations Investment Advisors LLC increased its position in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company's stock worth $4,925,000 after acquiring an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Churchill Downs by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock worth $556,000 after acquiring an additional 165 shares during the period. 82.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Mizuho increased their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Macquarie increased their price objective on shares of Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Stifel Nicolaus increased 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. Finally, Susquehanna increased their price objective on shares of Churchill Downs from $121.00 to $126.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Churchill Downs presently has a consensus rating of "Buy" and an average target price of $136.50.

Churchill Downs Price Performance

Shares of CHDN traded up $1.4570 during mid-day trading on Tuesday, reaching $104.5070. The company had a trading volume of 67,386 shares, compared to its average volume of 722,276. The company's 50 day simple moving average is $103.81 and its 200 day simple moving average is $104.98. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.92 and a beta of 0.95.

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 net margin of 15.22% and a return on equity of 41.46%. The company had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same period last year, the company posted $2.89 EPS. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

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.